Reuters said that Inflation in Egypt eased to its lowest level since May 2016, spurring speculation that the central bank may extend its cycle of interest-rate cuts in the coming months.
The annual rate in March in urban parts of Egypt dropped to 13.3 percent from 14.4 percent in February, according to data from the state-run statistics agency. The figure is squarely within the target range of 13 percent, plus or minus 3 percentage points, that the central bank set after the November 2016 decision to lift currency controls. Core inflation eased to 11.59 percent, according to the central bank, the lowest it s been in two years.
