Arab Finance: HC Securities and Investment expects the Central Bank of Egypt (CBE) to hold interest rates steady at its upcoming Monetary Policy Committee (MPC) meeting on September 5th, as per an emailed press release.

Heba Mounir, Financial Analyst and Economist at HC, noted that urban inflation is expected to slow down to 24.9% year-on-year (YoY) in August.

However, the monthly inflation may rise by 1.0% due to increased energy and transportation costs observed in early August, Mounir said.

The CBE decided to keep its key policy rates unchanged during its July meeting.

On March 6th, the CBE’s MPC raised interest rates by 600 basis points (bps) at a special meeting.

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