The Monetary Policy Committee of the Central Bank will meet next Thursday to determine the interest on savings vessels within the regular meetings held by the Central Bank.
Bankers expect the central bank of Egypt to lower interest rates at the next central bank monetary policy next Thursday to record interest rates on savings vessels as part of regular meetings held by the central bank.
The committee reviews the economic and financial reports and studies prepared by the Central Bank's monetary policy unit, which includes the latest local and global developments, and assesses the risks associated with the inflation potential before taking the decision on the return prices.
The law of the Central Bank and the banking system and cash 88 of 2003 are subject to the Central Bank of Egypt and monetary policy.
"Price stability is a primary objective of monetary policy and it anticipates other objectives, and therefore the central bank aims for low inflation rates in the medium term that contribute to building confidence and creating an environment conducive to investment and economic growth. ," he said.
Developer: Lower interest rates revive the sale of the real estate market
Scary. Asr Hamdi, member of the Chamber of Real Estate Development of the Federation of Industries, stressed that any reduction in interest rates at banks will be positively reflected in the real estate market and will revive sales, noting that real estate for many citizens is still the best investment.
Hamdi said in a special statement that lowering interest rates will encourage citizens to use their savings to buy property or gold and expects the increase in property market sales in the coming period coupled with the dismantling of the property market. "platinum certificates" at banks.
He stressed that the real estate market in general will not stagnate, but some sectors and residential segments are certainly, which will sell significantly less, especially the luxury housing, which is a remarkable saturation, but the rest of the residential sectors will have a good sales realize.
Amr Fattouh: lower interest rates reflected positively on investment
Amr Fattouh, member of the Badr Investors Association and member of the industrial committee of the Lebanese Friendship Association, said that any reduction in interest rates at banks would be reflected in the industrial sector, the investment climate and the economy in general.
He stated in "special statements to Veto" that any rate cuts indicate the improvement of the economy, noting that the reduction of interest rates contributes to the injection of investment projects, which has an impact on employment, which explains that the high does not encourage interest investments, which also requires a focus on industrial projects
He said that there are countries that do not exceed the interest rate of 5%, such as China and Germany, pointing out that high interest rates usually benefit foreign investors.
4 Advantages to lower interest rates at banks
Fathi al-Tahawi, deputy head of household appliances at Cairo's Chamber of Commerce, said that lowering interest rates helped the recession and stagnation in the markets by pointing out that interest rates are the main engine of the market and revitalize them.
"The head of the division," in special statements to "Vito": there is an increase in these foreign investments without the return of the market by setting up projects, which is hot money.
Al-Tahawi pointed out that the lowering of the interest rate contributes to the expansion of trade and various productive projects, whether they are agricultural, industrial or commercial, and thus the high employment rates for young people and employment in the Egyptian market.
Tahawi said that the reduction in interest encourages citizens to invest and work to achieve real profits and not fake.
For his part, Raymond Nabil, a stock market expert, said the main index EGX30 has been rising since the beginning of January in the strongest uninterrupted rally since April 2018, that is, since the beginning of the main correction from the level of 18400 points can be approached to some levels can be difficult to penetrate The current first wave is not even temporarily corrected to regain purchasing power and the level we are talking about is a resistance area represented at the level of 14800/15100 points.
He added that we almost reached the first level during the session on Thursday 7/2/2019, where the RSI reached a temporary saturation stage and we still see that any correction 14500/14000 points will be fully able to to rise again index, where still coming Next week, attention will be focused on the meeting of the central bank next Thursday, which may be aimed at lowering interest rates on the basis of the latest data on inflation and Treasury bills with the strength of the cash flow during the recent rise in the real estate and petrochemical sector, and also noting that during some adjustment there may continue to rise shares as a kind of I role Capital in shares and sectors have gotten small and medium shares, with so little free traffic.