Goldman Sachs forecasts Egyptian interest rate reduction, inflation decline and a stable exchange rate

According to a report by Goldman Sachs the Central Bank of Egypt (CBE) is expected to implement a series of interest rate reductions in the coming months. The report suggests that in September, the CBE will reduce interest rates by 1 percent, followed by a further decrease of 2 percent in the last quarter of 2024. The report also forecasts a decline in inflation of about 12.5 percent throughout 2025, which is lower than the consensus expectations of 16 percent as well as a stable exchange rate.