两国央行，同日降息

Group 1: Egypt Central Bank Rate Cut - The Central Bank of Egypt announced a 200 basis points cut in key policy rates, reducing overnight deposit and loan rates to 22% and 23% respectively, marking the third rate cut of the year [1][2] - The decision reflects the Central Bank's assessment of inflation dynamics and economic growth, with a focus on stabilizing inflation expectations [2][4] - The Central Bank's forecast for economic growth in Q2 2025 is 5.4%, driven by non-oil manufacturing and tourism, with an average growth rate of 4.5% for the fiscal year 2024/2025 [3] Group 2: Inflation and Economic Outlook in Egypt - The annual inflation rate in Egypt decreased from 14.9% in June to 13.9% in July 2025, indicating a downward trend in inflation expectations [3] - The Central Bank predicts an average inflation rate of 14% to 15% for the year 2025, with a target to achieve a 7% inflation rate by Q4 2026 [4] - The unemployment rate is projected to decline from 6.3% in Q1 to 6.1% in Q2 2025, suggesting improvements in the labor market [3] Group 3: Philippines Central Bank Rate Cut - The Central Bank of the Philippines lowered its key policy rate by 25 basis points to 5.0%, marking the third consecutive rate cut this year [5][6] - The overnight deposit and loan rates were also reduced to 4.50% and 5.50% respectively, with a total reduction of 150 basis points since last year [5] - The Central Bank maintains a stable inflation outlook, with a forecasted inflation rate of 1.7% for 2025, slightly up from the previous estimate of 1.6% [5][6] Group 4: Economic Challenges in the Philippines - Potential adjustments in electricity prices and changes in rice tariff policies may increase inflationary pressures in the Philippines [6] - The Central Bank remains optimistic about the economic stimulus effects of the rate cuts, indicating the possibility of further rate reductions within the year [6]