The Monetary Policy Committee’s scheduled meeting for Thursday, November 3, 2022 has been cancelled by the Central Bank of Egypt.
The committee’s extraordinary meeting on Thursday, October 27, 2022, was sufficient, according to a statement from the bank.
In a special meeting of the bank’s monetary policy committee last Thursday, the Central Bank of Egypt announced boosting the interest rate by 200 basis points, to 13.5% and 14.5%, and increasing the credit and discount price to 13.5%.
75, while the primary currency went up to 13. 75%.
This was ascribed by the central bank as supporting medium-term price stability.
According to the Central Bank, the forces of supply and demand acting within the framework of a flexible exchange rate system will determine how much the Egyptian pound will exchange for in relation to other currencies if sustainable economic growth is achieved.
A must.. the central bank decides to cancel the meeting of the monetary policy committee next Thursday
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