Egypt's central bank left its key policy rates unchanged for the third time, saying the current rates are consistent with the outlook for inflation and achieving the target of 13 percent, plus/minus 3 percentage points, in the fourth quarter of this year.
Fitch Ratings has affirmed Egypt's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B' with a Positive Outlook.
Egypt's central bank left its key policy rates steady for the second month in a row, saying inflation is expected to remain in line with its target for the fourth quarter of this year before declining to single digits after the temporary effect of supply shocks dissipate.
The Central Bank of Egypt's (CBE) Monetary Policy Committee (MPC) kept overnight deposit and lending rates unchanged at 16.75 percent and 17.75 percent respectively, the CBE announced in a statement on Thursday.
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