Egypt’s central bank withdrew EGP 1.249 tln (USD 25.9 bln) from 30 local banks on July 9, continuing its efforts to manage liquidity after absorbing EGP 1.082 tln the previous week. The CBE also raised its weekly fixed-rate auction interest to 27.75%. Meanwhile, Egypt’s urban inflation decreased to 27.1% in June from 28.1% in May, marking a fourth consecutive month of decline.