Many analysts and bankers expected that the Central Bank of Egypt would raise interest rates for the second time in a row, at a rate between 1% and 2% in the next meeting of the Monetary Policy Committee in the bank, which is likely to be held on May 19, 2022, and that some of them linked this hike developments in both local and global situations.
Central bank interest rates rise for the second time
And all of this comes in light of many expectations that revolve around the continuation of high rates of inflation during the coming months, and this comes following exceeding all the basic objectives of the Central Bank that were announced in March 2022, in addition to the direction of the Federal Reserve, “the US Central Bank”, to raise New for all rates of interest on the dollar at its next meeting.
Introducing the high savings certificate at Al-Ahly and Misr Banks
Many believe that the recent introduction of a high-return savings certificate in Egypt and Al-Ahly Banks at 18% is sufficient to address the rise in inflation during the coming period, and therefore there is no need for a new interest rack in the Central Bank of Egypt.
The central bank raises interest rates suddenly
The next meeting will come following you raise Egyptian Central Bank Interest rates suddenly reached 1% in an exceptional meeting, and this is what happened on Monday, March 21, and reached 9.25% for deposits and 10.25% for lending, the same day that happened in the National Bank of Egypt and Egypt to offer a high-return savings certificate with a rate of up to 18%.
