Urgent – “Install or Raise”… The Central Bank of Egypt raises controversy over interest rates before today’s meeting

Central bank decisions, central bank meeting, interest rates, central bank, central bank meeting date, we are a few hours away from the start of the central bank meeting, as everyone is waiting for central bank decisions during today’s meeting, and everyone is wondering whether the interest rate will increase or will it be fixed and the situation remains the way it is.

Central Bank meeting dates 2023

The Central Bank holds 8 meetings during the current year, where four meetings were held during the months of February, March, May and June last, and the fifth meeting will be held later in the day, leaving 3 meetings during this year, and it is scheduled to be held in the months of September, November and December.

The central bank raises the debate about interest rates before today’s meeting

Al-Fajr electronic portal publishes, most notably Central bank decisions before today’s meeting Concerning interest rates, especially since citizens, despite expectations of fixation according to a large number of experts, the Central Bank is causing controversy, and no one expected what would happen on the scene during the next few hours.

• Central Bank meeting February 2023: Maintaining the rates of the return on deposit and lending for one night and the price of the main operation of the Central Bank at the level of 16.25%, 17.25% and 16.75%, respectively, and the credit and discount rate was maintained at the level of 16.75%.
• Central Bank meeting in March 2023: Raising the rates of the deposit and lending return for one night and the price of the main operation of the Central Bank by 200 basis points to reach 18.25%, 19.25% and 18.75%, respectively, in addition to raising the credit and discount rate by 200 basis points to reach 18.75%.
• May 2023 Central Bank meeting: Maintaining the rates of the return on deposit and lending for one night and the price of the main operation of the Central Bank at the level of 18.25%, 19.25% and 18.75%, respectively, and the credit and discount rate was maintained at the level of 18.75%.
• Central Bank meeting June 2023: Maintaining the rates of the overnight deposit and lending return and the rate of the main operation of the Central Bank at the level of 18.25%, 19.25% and 18.75%, respectively. The credit and discount rate was kept at 18.75%.

The US Federal Reserve raises interest rates

The US Federal Reserve raised interest rate by 25 basis points, at the end of July 2023, to reach a range of 5.25-5.50%; That is, a total increase of 100 basis points since the beginning of the year to date, and 425 basis points in 2022.