The Central Bank of Egypt’s Monetary Policy Committee to leave interest rates unchanged when it meets on Thursday, a Reuters poll suggests. Nine out of 13 economists polled forecast the bank will hold overnight deposit rates at 14.75% and overnight lending rates at 15.75%. "Higher interest rates will not help curb inflation which is elevated mainly due to cost push factors and a negative base effect," Arqaam Capital senior economist Reham Eldesoki says, “current levels are sufficient to render investing in the Egyptian pound attractive for local and foreign investors.” Pharos Holding agrees and its research note published on Sunday forecasts a rate hold. Capital Economics, on the other hand, is among the outliers and expects a 100 bps rate hike.

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