CBE not expected to raise interest rate in next meeting: economist ...Egypt

An economic expert expects that the Central Bank of Egypt would not resort to raising the interest rate at the next meeting of the Monetary Policy Committee.   This comes despite the US Federal Reserve’s decision to raise the interest rate, because the Central Bank of Egypt took a proactive decision a few days ago and raised the interest rate by 2 percent before the Fed’s decision was issued. This limits the repercussions of raising the US interest rate or investments in government debt instruments during the coming period, due to the high interest rate offered on the pound, he said. The US Federal Reserve’s decision to raise the main interest rate on the dollar by 0.75 percent in order to

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