Yields on Egypt's three- and nine-month treasury bills fall

Average yields on Egypt's three- and nine-month treasury bills fell to their lowest in at least a year at an auction on Sunday, central bank data showed, amid a drop in inflation and anticipation of an interest rate cut this week. Some economists have said they expected the bank's Monetary Policy Committee that is scheduled to meet on Thursday to cut the deposit and lending rates, currently at 18.75 and 19.75 percent.
Yields on the 91-day bills dipped to 17.635 percent on Sunday from 17.652 percent at the last similar sale, their lowest rate since an auction on Feb. 14 last year. Yields on the 266-day bills dipped to 16.639 percent from 16.580 percent, their lowest since Oct. 2016, a month before the country floated its currency.
Egypt floated its pound in Nov. 2016 to clinch a $12 billion International Monetary Fund loan aimed at boosting growth after years of turmoil drove tourists and foreign investors away.