(MENAFN- Khaleej Times) Egypt's central bank left its main overnight interest rates unchanged as expected on Thursday, as economic growth remains tepid more than two years after the uprising that ousted Hosni Mubarak.
The bank is keen for stability ahead of a major anti-government protest scheduled for next week, economists said. All 11 economists in a Reuters survey had forecast that the bank would keep rates unchanged.
Inflation has been creeping higher in recent months, but the bank's Monetary Policy Committee (MPC) said it was reluctant to raise rates in view of the lack of strong economic growth."While the slowdown in economic growth has been limiting upside risks to the inflation outlook, there are possible pressures on inflation going forward," the MPC said in a statement issued after the decision.
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