The annual inflation rate was 29.7% in May 2017. In contrast, Reham El-Desouky, an economist at Arqaam Capital, said that the interest rates are likely to be kept unchanged, adding that the inflationary pressures caused by the cost-raising factors would not be affected by a new increase in interest rates. Prime Research predicted that the MPC would keep the pound’s interest unchanged at Thursday’s meeting. According to Nour El-Din Mohamed, head of Target Investments Financial Consultancy and Asset Management, the interest rate on the pound has already reached record high. HSBC said in a report that the CBE is likely to decide to keep interest rates unchanged on Thursday.

Source: Daily News Egypt July 05, 2017 15:56 UTC