Egypt's central bank is expected to keep its overnight interest rates steady at a policy meeting on Thursday, as the government targets stability ahead of a presidential election scheduled for December and amid the ongoing crisis in Gaza.
The median forecast in a poll of 16 analysts is for the bank to hold its deposit rate steady at 19.25% and its lending rate at 20.25% when its regular monetary policy committee meets. Three analysts expected the bank to hike rates by 100 basis points .
Carla Slim of Standard Chartered said she expected the "CBE to extend a pause on both FX and rates adjustments until a likely augmented IMF programme is finalised." The IMF was due to disburse funds twice a year over 46 months, but delayed the June payment amid reports it was unhappy with Egypt's progress.
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