The focus on inflation came as the Central Bank of Egypt decided on Thursday to leave overnight deposit and lending rates unchanged at 14.75% and 15.75%, respectively. The CBE expects the annual inflation to ease as monthly inflation rates moderate, citing the deceleration of headline inflation in February to 2.6%, according to a statement released by the Monetary Policy Committee after the meeting. Capital Economics’ Jason Tuvey sees it as unlikely rates will ease until much later in the year, the Wall Street Journal reports.

The Finance Ministry, meanwhile, is prepared for interest rates as high as 18% in the next budget, according to Al Mal

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