Even as the USD/EGP has been flat or stronger modestly.
and the central bank cuts rates by 1.00%
Annual inflation fell to 14.4 percent in February, its lowest level since October 2016, after hovering around 30 percent for much of last year. The bank has lowered the benchmark by a total 200 basis points this year.
The decline in inflation may be interrupted by the next round of subsidy cuts scheduled for the second half of the year.