2 Days
Source:
مصراوي
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Rate Hike Protects Pound
Economist Mohamed Fouad said he supported the Central Bank of Egypt’s decision to raise interest rates by 1%, describing it as necessary to curb inflation expectations, bolster confidence in monetary policy, and protect the pound amid exchange-rate pressures and global developments. He explained that monetary tightening could raise financing costs and debt-servicing burdens and temporarily slow economic activity, but would help protect purchasing power and savings and limit price spikes. He added that sustaining stability requires, alongside monetary policy, boosting production and exports, attracting investment, and securing sustainable sources of foreign currency.
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