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Egyptian economist advises keeping interest rates
Dr. Mohamed Anis, a member of the Egyptian Society of Economics and Legislation, stated that the decision by the Central Bank of Egypt to keep interest rates steady at its Monetary Policy Committee meeting is currently the best approach. He explained that the mild inflation wave results from the repercussions of the war between the United States and Iran, and maintaining stable rates helps absorb the impact of this inflation without the need to increase them, especially given that there is no concerning increase in the money supply. He pointed out that the most likely scenario is to hold rates steady unless global oil prices rise significantly or the U.S. Federal Reserve increases interest rates, which could prompt the Central Bank to raise the interest rate on the Egyptian pound. The Central Bank decided to maintain the main interest rate at 19.00%, with the expectation to continue monitoring inflation and market movements until the end of the year.
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