ArabFinance: HC Securities and Investment expected the Central Bank of Egypt to maintain interest rates during its coming March 18th meeting, according to an emailed press release.

The Monetary Policy Committee (MPC) will likely keep the rates unchanged based on Egypts current situation.

The research unit projected a monthly inflation rate that averages 0.8% Month on Month and 6.4% Year on Year. This would account for possible domestic price shocks following the recent commodity price rally and possible recovery in consumer confidence.

In February 4th meeting, the MPC decided to maintain the rates for the second consecutive time after undertaking cuts of 50 basis points twice in its September and November 2020 meetings. This matched HC Securities expectations back then.

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