Middle East & North Africa Economics

Middle East Economics Update

15 November, 2018

Egypt’s central bank shrugs off rising inflation

The decision by Egypt’s central bank to keep its policy interest rate on hold confirmed that the MPC is paying more attention to weak underlying price pressures than the recent spike in headline inflation. The easing cycle is likely to resume next year as inflation drops back. We have pencilled in a total of 550bp of rate cuts by end-2019, which is more easing than most anticipate.

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