Egyptian economist, Mostafa Badra, spoke to RT about the repercussions of the Central Bank of Egypt’s decision to fix the interest rate. This comes at a time when a number of banks around the world announced that it had raised it. Badra told RT that at the beginning of 2023 and the first meeting of the Monetary Policy Committee of the Central Bank of Egypt, interest rates were fixed, and of course this was done after a careful study by the Central Bank and monetary policy committee on interest rates and inflation indicators. In 2022, interest rates were raised by three percent and the Monetary Policy Committee decided to fix it in 2023, he said. He pointed out that the black market almost va
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