Cairo – Mubasher: The Egyptian Central Bank is expected to cut interest rates by 2% by 2020, according to a report released by Fitch Solutions.
The reduction of interesting rates will decrease the cost of finance for local companies which support commercial loans, the report added.
Fitch Solutions noted that the decline in interest rates and inflation will increase demand for consumer goods.
In August, the Egyptian central bank decided to slash interest rates by 150 basis points.
The Overnight deposit rate and the overnight lending rate were lowered to 14.25% and 15.25%, respectively, while the rate of the main operation was reduced to 14.75%
