The Central Bank of Egypt: it is not necessary to change the date of the meeting of the Monetary Policy Committee

An official source from the Central Bank of Egypt confirmed that the Central Bank’s Monetary Policy Committee will meet on the scheduled date, May 19.

The source said there are no new events requiring the meeting date to be changed, the Middle East News Agency reported.

The Monetary Policy Committee, formed by decision of the Board of Directors of the Central Bank of Egypt, is composed of 7 members, namely the Governor of the Central Bank of Egypt, the two Deputy Governors and 4 members of the Board of Directors and monetary policy decisions are made through that committee.

The Monetary Policy Committee meets on Thursday every 6 weeks and the committee’s meeting schedule until the end of questyear will be announced on the site web of the Central Bank.

The Central Bank’s Monetary Policy Committee has held two meetings since the beginning of quest’year, on February 3 and March 24, while the remaining 6 meetings are on May 19, June 23, August 18, September 22, November 3 and December 22, 2022.

Economic and financial reports and studies prepared by the Monetary Policy Unit of the Central Bank of Egypt, which include the latest local and global developments and assess all risks associated with the possibility of inflation, are presented to the Monetary Policy Committee, prior to to make decisions.

At the local level, the committee follows many variables, including inflation, interest rates, monetary and credit developments, asset prices and real sector indicators.On the international side, it studies and tracks global growth and inflation rates, global interest and expectations future.

The Central Bank of Egypt publishes a statement and a summary of the reasons for the decisions after each meeting of the Monetary Policy Committee on the site web of the Central Bank immediately after the end of each meeting.

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