Egyptian Central Bank to Discuss Fate of Interest Rates at Meeting Tomorrow: Expert

Egyptian Central Bank to Hold Meeting on Interest Rates Tomorrow

In a surprising turn of events, the Egyptian Central Bank has announced that it will be holding a meeting tomorrow to discuss the fate of the interest rate. The meeting, which comes at the end of the fiscal year, has sparked speculation among experts and economists.

Dr. Ahmed Shawky, a renowned banking expert, shed some light on the upcoming meeting during a telephone interview on the “Tahrir Hall” program broadcast on Sada Al-Balad channel. He revealed that inflation has reached a staggering 42% and continues to rise. However, he emphasized that the current inflation is not caused by demand but rather by the increase in prices.

Dr. Shawky expressed his belief that raising interest rates at this time will not yield any positive results. On the contrary, he argued that it will only further exacerbate the inflation problem. He suggested that the Central Bank should instead consider fixing interest rates to stabilize the economy.

Furthermore, Dr. Shawky warned that raising interest rates now could have a detrimental impact on companies. With businesses already struggling due to the economic challenges brought on by the pandemic, an increase in interest rates could potentially hinder their recovery efforts.

The decision made by the Central Bank tomorrow will undoubtedly have significant implications for the Egyptian economy. Experts and analysts will be closely monitoring the outcome of the meeting, as it could shape the country’s economic trajectory in the coming months.

As the fiscal year comes to a close, the Egyptian Central Bank faces the challenging task of finding the right balance between combating inflation and supporting economic growth. The decision made tomorrow will undoubtedly be a crucial one for the country’s financial stability.

How might the decision made by the Egyptian Central Bank tomorrow affect the country’s economic trajectory in the coming months

Article: Egyptian Central Bank to Hold Meeting on Interest Rates Tomorrow

In a surprising turn of events, the Egyptian Central Bank has announced an upcoming meeting to discuss the fate of interest rates. Scheduled at the end of the fiscal year, this meeting has sparked speculation among experts and economists alike.

During a telephone interview on the “Tahrir Hall” program broadcast on Sada Al-Balad channel, Dr. Ahmed Shawky, a renowned banking expert, shed light on the upcoming meeting. He revealed that inflation has reached an alarming 42% and continues to rise. However, he emphasized that the current inflation is not caused by demand but instead by rising prices.

Dr. Shawky expressed his belief that raising interest rates at this time would not yield positive results. On the contrary, he argued that it would only worsen the inflation problem. His suggestion was for the Central Bank to consider fixing interest rates to stabilize the economy.

Furthermore, Dr. Shawky warned of the detrimental impact that raising interest rates now could have on companies. With businesses already struggling due to the economic challenges brought on by the pandemic, an increase in interest rates could potentially hinder their recovery efforts.

The decision made by the Central Bank tomorrow will have far-reaching implications for the Egyptian economy. Experts and analysts will closely monitor the outcome of the meeting, as it could shape the country’s economic trajectory in the coming months.

As the fiscal year comes to a close, the Egyptian Central Bank faces the daunting task of striking the right balance between combating inflation and supporting economic growth. Tomorrow’s decision will undoubtedly play a crucial role in maintaining the country’s financial stability.