Cairo – Mubasher: EFG Hermes expects interest rates in Egypt to decline by 2% next year. 

The company’s head of research Ahmed Shams said on Thursday that inflation is expected to reach 13% to 14% in 2019. 

It is worth noting that Capital Economics also expects inflation to fall further in Egypt over the coming months as the effects of the food price spike continue to unwind and underlying inflation stays weak. 

Egyptian inflation dropped back in November and it is expected to fall further over the coming months. 

The Central Bank of Egypt (CBE) is likely to keep interest rates unchanged at its meeting later this month but will resume its easing cycle in early 2019.