Egypt set to lower interest rates – again

Egypt's central bank is expected to lower overnight interest rates by a median of 175 basis points on Thursday, according to reporting by Reuters, extending a reduction begun in April. It is the second interest rate cut  in more than five years, suggesting lower inflation could spur further rate cuts in the future. Egypt’s economy grew 4.3% year-on-year in Q4 of 2024 driven largely by foreign assistance.