Egypt Explores Solutions Beyond Rate Hike to Tackle Record Inflation

Not even record inflation looks likely to spur Egypt’s first interest-rate hike since March, with policymakers seen raiding other parts of their toolbox to tackle price pressures until a debilitating foreign-currency crunch is resolved.

Potential rate changes have been put on the backburner because the next raise is widely expected to come in tandem with another devaluation of Egypt’s beleaguered pound — and the North African nation’s authorities probably haven’t yet built up the dollar buffers from state-asset sales to enact the orderly currency transition they want.

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