Egypt central bank seen holding interest rates: poll

Egypt central bank seen holding interest rates: poll

CAIRO- Egypt's central bank is expected to leave its main interest rates unchanged at a meeting on Thursday, with a desire to attract foreign funds outweighing the decline in inflation to its lowest in nearly a year, a Reuters poll showed.Of 18 analysts polled, 15 forecast the central bank would leave rates on hold at its regular monetary policy committee meeting. Three others expected a cut of 100 basis points.The overnight lending rate of 10.25% and the overnight deposit rate 9.25% are already at the lowest levels since early 2016, before Egypt embarked on a three-year, IMF-backed economic reform programme.Egypt's annual urban consumer price inflation fell to 3.4% in August, its lowest since October, from 4.2% in July and 5.6% in June, state statistics agency CAPMAS said this month --