The Central Bank of Egypt (CBE) cut its benchmark deposit rate by 150 basis points to a near three-year low of 14.25% on 22 August.
This comes as core inflation fell to a 44-month low of 5.9% for the year to July despite energy prices rising as Cairo slashed both electricity and fuel products subsidies in recent months (MEES, 28 June). (CONTINUED - 158 WORDS)