The meeting was supposed to be held on Thursday, but was delayed due to CBE governor Tarek Amer being occupied by attending other meetings. In its last meeting, the MPC stressed that the international economic developments show that despite the increases in the prices of main goods, the international growth rate is still weak. Earlier this month, the International Monetary Fund (IMF) said that using interest rates might be the correct tool to face inflation in Egypt. “The CBE may increase interest rates with financial precautions in case large inflation pressure took place,” she added. The rate of unemployment dropped to 12.0% in Q1 FY 2016/2017, compared to 12.4% in the previous quarter.

Source: Daily News Egypt May 21, 2017 08:15 UTC