2023-06-21 12:22:00
The Monetary Policy Committee of the Central Bank of Egypt will decide, tomorrow evening, Thursday; The interest rate on banking transactions in banks is within its plans during the current year by holding 8 periodic meetings.
Reports issued by the Central Bank of Egypt revealed that it decided to hold its fourth meeting, starting tomorrow, to determine the fate of the interest rate on various banking transactions.
Analysts are watching for the Central Bank of Egypt to keep the overnight deposit and lending rates unchanged during its meeting tomorrow.
Banking experts considered that from the recent increase of 2.72% in inflation on a monthly basis in May, the reason for this is due to: (1) the failure to increase the burden on the borrowing capacity of companies, which suffer from high input prices and weak demand.
Experts stated that the government needs to keep the cost of servicing the domestic debt under control, in light of the decline in credit risk swaps for a period of one year, which led to a decrease in the expected return required by investors for a period of 12 months on Egyptian treasury bills, according to our calculations compared to the previous month.
Despite the delay in the release of the IMF program review and the disbursement of the subsidized loan tranche, the one-year CDS index has fallen significantly to 1,221 now from a high of 2,510 in mid-May, which has led to a drop in the expected 12-month treasury bill yield by 200. basis points compared to the previous month
Referred to as the Monetary Policy Committee aims to hold 8 periodic meetings for this year, 3 of which were held, the last of which was last May
It is intended to hold its fourth meeting tomorrow, Thursday, the fifth on August 3, the sixth on September 21 of the same year, the seventh on November 2, and the last on December 21, 2023.
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