Cairo – Mubasher: The fall of Egypt's inflation to 13% in April 2018 will enable the Central Bank of Egypt (CBE) to trim interest rates two times during this year, according to the World Bank’s Global Economic Prospects Report (PDF).
The North African nation's annual urban consumer price inflation reached 12.9% in April, compared to 32.9% in the same month a year earlier, Central Agency for Public Mobilization and Statistics (CAPMAS) said.
The central bank raised key interest rate three times after the currency float in November 2016 by 7%, or 3% in November, 2% in May and 2% in July, whereas it was reduced in February and March 2018 by 1% each.
