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Percentage of inflation prevents CBE from slashing interest rate: Expert

Monday 25/March/2019 - 08:10 PM
Sada El Balad
Edited by Ahmed Moamar
Ali Al Ididrisi، an economic expert، said that the Committee of Monetary Policies at Central Bank of Egypt(CBE) is expected to stabilize rate of interest over the new meeting next Thursday.
He pointed out that percentage of inflation is still higher somehow.
He went on to say that higher inflation prevents CBE from slashing rate of interest.
He expected that the rate of interest may be slashed by 1% before the end of the current year.
It is worth to mention that CBE has reduces rate of inflation by 1% since months.
Thursday’s meeting of Committee of the Monetary Policy is the second one during this year.
It will decide rate of interest for loans and depositing for one day.
The committee slashed rate of interest by 1% in February.

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