08:32 p.m
Thursday, September 22, 2022
Cairo – Masrawy:
Today, Thursday, the Monetary Policy Committee of the Central Bank of Egypt will issue a decisive decision regarding interest rates, after the US Federal Reserve raised the interest rate by 0.75% at its meeting on Wednesday.
The market is awaiting the Central Bank of Egypt’s decision, amid expectations of raising interest rates, after it decided to fix them in the last two meetings of the Monetary Policy Committee.
This is the sixth meeting of the Policy Committee this year.
The meeting comes after a rise in inflation rates last month, where the annual inflation rate for the total of the Republic in August recorded 15.3 percent, compared to 14.6 percent in July, according to data from the Central Agency for Public Mobilization and Statistics.
The annual inflation rate in cities rose last August to 14.6 percent, compared to 13.6 percent in July, according to the agency’s data.
The annual inflation rate in cities still exceeds the target range set by the Central Bank for the annual inflation rate at the level of 7% (+ or minus 2%) on average during the fourth quarter of 2022.