The Governor of the Central Bank of Egypt, Tarek Amer, expected that the inflation rate in Egypt would rise on an annual basis to an average of 6.2% during the fourth quarter of 2020 after it fell to Less than 6% since last February.
Amer spoke about these expectations during a meeting to brief Egyptian Prime Minister Mostafa Madbouly on the latest economic developments.
The Central Bank of Egypt has set an inflation target of 9%, increasing or decreasing 3 percentage points.
The central bank cut interest rates by 300 basis points last March and has not changed them since.
(Amazon Fun Knowledge)
