An official source at the Central Bank of Egypt confirmed that the Monetary Policy Committee of the Central Bank will meet on its normal date, May 19.
The source said – in statements to the Middle East News Agency – that there are no new events that require amending the date of a meeting.
The Monetary Policy Committee – which was formed by a decision of the Board of Directors of the Central Bank of Egypt – consists of seven members, namely: the Governor of the Central Bank of Egypt, two deputy governors, and four members of the Board of Directors, and decisions related to monetary policy are taken through that committee.
The Monetary Policy Committee meets on Thursday every six weeks, and the schedule for the committee’s meetings until the end of this year is announced on the website of the Central Bank.
The Monetary Policy Committee of the Central Bank has held two meetings since the beginning of this 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.
And presented to the Monetary Policy Committee, economic and financial reports and studies, prepared by the monetary policy unit of the Central Bank of Egypt. These studies include the latest local and global developments and assess all risks associated with the possibility of inflation, before making decisions.
At the local level, the committee follows up on many variables, including: inflation, interest rates, monetary and credit developments, asset prices and real sector indicators. On the international side, it studies and follows up global growth and inflation rates, global interest rates and future expectations.
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 website of the Central Bank immediately after the end of each meeting.