Egypt’s central bank cuts interest rates for the fifth time this year, with the deposit and lending rates both reduced by 100 basis points to 20% and 21% respectively. Inflation slowed slightly to 12.3% in November, despite recent fuel subsidy cuts. The move aims to balance interest payments and attract foreign investment while taming inflation that hit 38% in 2023. Analysts, including Mohamed Abu Basha, see the cut as maintaining a conservative stance. Egypt and the IMF reached an agreement for a $8 billion loan program, granting access to $2.5 billion in tranches.

Read more at Yahoo Finance: Egypt Squeezes in 5th Rate Cut of Year After Inflation Slows