The Central Bank of Egypt (CBE) expects inflation rates to reach their peak in the second half (2H) of 2023, provided that they decline again to the previously announced target, supported by the restrictive monetary policies.
Last Thursday, the Monetary Policy Committee (MPC) of CBE decided to increase the basic return rates by 1% to 19.25% for deposits, 20.25% for lending, and 19.75% for the credit and discount rate and the price of the main operation at the Central Bank.
Read More : CBE Anticipates Inflation to Peak in H2 2023 in Egypt