How CBE raising interest rates will affect prices in Egypt: An expert answers ...Egypt

The Central Bank of Egypt’s decision to raise interest rates by 200 basis points on deposits and borrowing comes to counter the wave of devastating high inflation rates by the US Federal Reserve, al-Sayed Khedr, an economist, said. He continued by saying that this step will lead to a rise in the exchange rate of the US dollar in the coming period, which in turn will have repercussions on prices. Khedr told Al-Masry Al-Youm that permanent reliance on monetary policy in Egypt must change, stressing the need to enhance Egyptian industries and increase production and real investments to counter the current economic circumstances. “We will witness a state of looseness in global markets, and a con

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