Egypt: interest rates on hold, devaluation increasingly likely

The Central Bank of Egypt kept its benchmark overnight deposit rate unchanged at 9.25% today as an influx of financial support has eased immediate concerns over the country’s external position and reduced the need to follow up on December’s rate hike. But with a devaluation of the pound very much on the cards, monetary policy is likely to remain tight.

Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.
By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.

Already a client or trialist? Log in to read this.