Egypt 'likely' to keep interest rates at same level

Analysts have predicted that Egypt's central bank benchmark interest rate will remain at the lowest level since November 2006 for the fourth consecutive meeting, as core inflation remains subdued, Bloomberg has reported. Core inflation, which excludes the cost of fruits and vegetables as well as administered prices, eased to 6.9% in February from 7.4% the month before. The central bank said on February 4 that inflation is within its "comfort zone," without saying what that range is. The bank has said it won't set an inflation target until it has more tools to manage price growth.