{"id":647901,"date":"2017-05-23T03:43:05","date_gmt":"2017-05-23T03:43:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/23\/nations-talking-heads-have-interest-rate-hike-subsidies-and-private-school-tuition-caps-on-the-brain\/"},"modified":"2017-05-23T03:43:05","modified_gmt":"2017-05-23T03:43:05","slug":"nations-talking-heads-have-interest-rate-hike-subsidies-and-private-school-tuition-caps-on-the-brain","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/23\/nations-talking-heads-have-interest-rate-hike-subsidies-and-private-school-tuition-caps-on-the-brain\/","title":{"rendered":"Nation\u2019s talking heads have Interest rate hike, subsidies, and private school tuition caps on the brain"},"content":{"rendered":"<p>As it should have been, the <strong>CBE\u2019s decision to hike interest rates by 200 bps on Sunday<\/strong><strong>dominated the airwaves last night.<\/strong><\/p>\n<p>On Kol Youm, <strong>Amr Adib spoke to National Bank of Egypt (NBE) Vice Chairperson Yehia<\/strong><strong>Aboul Fotouh<\/strong>, <strong>who believes the hike will only negatively affect \u201clarge clients\u201d<\/strong> including manufacturers with significant debt. He also suggested the hike will force many companies to tighten their payment terms. Aboul Fotouh also said that the decision will help banks attract liquidity, since it makes deposits more attractive, with interest rates that could climb to highs of 13% on one-year CDs (<a href=\"https:\/\/www.youtube.com\/watch?v=2ddLpD5x21w\">watch<\/a>, runtime: 7:03).<\/p>\n<p><strong>Banque Misr Chairman Mohamed El Etreby told Adib<\/strong> that the hike will not affect high-yield CDs, which will remain fixed at 16% and 20% rates, nor will it see banks raise rates for small business financing offered under the central bank\u2019s SME initiative. The interest rate hike will not impact the central bank\u2019s mortgage finance initiative either, he reportedly told <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1137294\">Al Masry Al Youm<\/a> earlier in the day. Banque Misr however is yet to decide if it will increase its own interest rates on deposits and savings, but it very well might, El Etreby said (<a href=\"https:\/\/www.youtube.com\/watch?v=4LWfxfsYRvE\">watch,<\/a> runtime: 2:08).<\/p>\n<p><strong>Adib also spoke to Acumen-BPE Chairman Hany Tawfik on his opposition to the rate<\/strong><strong>hike.<\/strong> Tawfik explained that the central bank has other tools to employ to attract liquidity, arguing that the hike is likely to further inflationary pressures and add some EGP 60 bn to the government\u2019s debt service burden, which he sees reflecting on the budget deficit (<a href=\"https:\/\/www.youtube.com\/watch?v=RDKLWZ4PXjs\">watch<\/a>, runtime: 3:52).<\/p>\n<p><strong>Economist Hany Genena, on the other hand, said the hike was justifiable<\/strong>, saying that it was a preemptive move to avoid another FX crunch later on in the year, as it\u2019s expected to help bolster foreign currency inflows. Genena acknowledged that market growth will suffer temporarily due to the CBE\u2019s decision, but said that it was necessary to make sacrifices now to avoid falling into old pitfalls later (<a href=\"https:\/\/www.youtube.com\/watch?v=LZIYW7Racxs\">watch,<\/a> runtime: 4:08). In the meantime, the government needs to strengthen the social safety net to cushion low income earners.<\/p>\n<p>Elsewhere, <strong>Supply Minister Ali El Moselhy <\/strong>told Al Hayah Al Youm\u2019s Lobna Asal that he promised MPs he would speak with his colleagues in cabinet about increasing monthly <strong>subsidy card allowances <\/strong>to help welfare beneficiaries keep up with rising inflation (<a href=\"https:\/\/www.youtube.com\/watch?v=7PyXlhYUKmY\">watch,<\/a> runtime: 2:24).<\/p>\n<p><strong>Lamees also spoke to Supply Minister Ali El Moselhy about the Ahlan Ramadan<\/strong><strong>supermarket expo<\/strong>, which was launched yesterday by El Moselhy, Prime Minister Sherif Ismail, and Trade Minister Tarek Kabil with over 200 companies participating, according to <a href=\"http:\/\/www.ahram.org.eg\/News\/202273\/5\/595443\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\/%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD%D9%87-%D9%85%D8%B9%D8%B1%D8%B6-%C2%AB%D8%A3%D9%87%D9%84%D8%A7-%D8%B1%D9%85%D8%B6%D8%A7%D9%86%C2%BB-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-.aspx\">Al Ahram<\/a>. El Moselhy told Lamees that the expo will continue to run throughout the holy month instead of wrapping up on 26 May as was originally planned (<a href=\"https:\/\/www.youtube.com\/watch?v=IvAso_IWpEY\">watch,<\/a> runtime: 8:26).<\/p>\n<p>Meanwhile on Yahduth Fi Misr, <strong>Sherif Amer discussed the new caps on private school<\/strong><strong>tuition increases with Education Minister Tarek Shawky,<\/strong> who said that the decision \u2014 which came after a discussion at the cabinet table \u2014 is meant to protect parents from \u201crandom\u201d and \u201cunjustified\u201d increases of up to 20-30%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As it should have been, the CBE\u2019s decision to hike interest rates by 200 bps on Sundaydominated the airwaves last night. On Kol Youm, Amr Adib spoke to National Bank of Egypt (NBE) Vice Chairperson YehiaAboul Fotouh, who believes the hike will only negatively affect \u201clarge clients\u201d including manufacturers with significant debt. He also suggested [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9281],"tags":[2379,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-647901","post","type-post","status-publish","format-standard","hentry","category-enterprise-last-nights-talk-shows","tag-enterprise-last-nights-talk-shows","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"3a3b222a-c413-4724-b7a7-a305d36e0312","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[647895],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Nation\u2019s talking heads have Interest rate hike, subsidies, and private school tuition caps on the brain - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/23\/nations-talking-heads-have-interest-rate-hike-subsidies-and-private-school-tuition-caps-on-the-brain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nation\u2019s talking heads have Interest rate hike, subsidies, and private school tuition caps on the brain\" \/>\n<meta property=\"og:description\" content=\"As it should have been, the CBE\u2019s decision to hike interest rates by 200 bps on Sundaydominated the airwaves last night. On Kol Youm, Amr Adib spoke to National Bank of Egypt (NBE) Vice Chairperson YehiaAboul Fotouh, who believes the hike will only negatively affect \u201clarge clients\u201d including manufacturers with significant debt. 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That was the question posed by Lamees El Hadidi last night (watch, runtime: 9:31), who noted reports in the domestic press that the central bank could bring forward its 19 May policy meeting in light of the\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":563813,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/fuel-price-hike-gerd-dominate-the-talk-shows-on-25-july-2021\/","url_meta":{"origin":647901,"position":1},"title":"Fuel price hike + GERD dominate the talk shows on 25 July 2021","author":"enterpriseam admin","date":"25 July 2021","format":false,"excerpt":"The government\u2019s decision on Friday to raise fuel prices dominated the airwaves last night: The nation\u2019s talk shows aired several interviews last night to reassure consumers that the higher fuel prices would not have a knock-on effect on public transportation. Local Development Ministry spokesperson Khaled Kassem told Kelma Akhira\u2019s Lamees\u2026","rel":"","context":"In &quot;Enterprise+: Last Night\u2019s Talk Shows&quot;","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549635,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/25\/last-nights-talk-shows-all-about-the-cbe\/","url_meta":{"origin":647901,"position":2},"title":"Last Night\u2019s Talk Shows: All about the CBE","author":"enterpriseam admin","date":"25 September 2022","format":false,"excerpt":"The Central Bank of Egypt\u2019s decision to leave interest rates unchanged dominated the airwaves over the weekend. We have the full story in this morning\u2019s news well, above.Who\u2019s celebrating? Unchanged rates is good news for the state budget, seeing as every rate hike comes bearing massive costs \u2014 a 100\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":578144,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/18\/cbe-to-raise-interest-rates-this-week-poll-2\/","url_meta":{"origin":647901,"position":3},"title":"CBE to raise interest rates this week - poll","author":"enterpriseam admin","date":"18 December 2022","format":false,"excerpt":"The Central Bank of Egypt is likely to raise interest rates when it meets on Thursday thanks to rising inflation, according to our interest rate poll. Seven of the nine analysts and economists we surveyed see the Monetary Policy Committee raising rates later this week, with five expecting another huge\u2026","rel":"","context":"In &quot;POLL&quot;","block_context":{"text":"POLL","link":"https:\/\/enterpriseam.com\/egypt\/category\/poll\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/353.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578322,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/todays-forecast-cold-with-a-high-chance-of-a-rate-hike\/","url_meta":{"origin":647901,"position":4},"title":"Today\u2019s forecast: Cold with a high chance of a rate hike","author":"enterpriseam admin","date":"22 December 2022","format":false,"excerpt":"It was an econ-heavy evening on the talk shows last night ahead of the central bank\u2019s policy meeting today and following several statements from the cabinet about the import backlog at the nation\u2019s ports and soaring food prices.What would a rate hike from the CBE mean? If the central bank\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/488.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570049,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/17\/covid-19-air-travel-suspension-and-cbe-interest-rate-cut-reviewed-on-talk-shows\/","url_meta":{"origin":647901,"position":5},"title":"Covid-19, air travel suspension and CBE interest rate cut reviewed on talk shows","author":"enterpriseam admin","date":"17 March 2020","format":false,"excerpt":"CBE interest rate cut: Al Kahera Alaan\u2019s Lamees El Hadidi spoke by phone with Hany Genena, head of research at investment bank Prime Holding, to discuss the Central Bank of Egypt\u2019s unprecedented decision to cut interest rates by 300 bps. He lauded the timing of the decision saying it will\u2026","rel":"","context":"In &quot;Enterprise+: Last Night\u2019s Talk Shows&quot;","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/647901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=647901"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/647901\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/647895"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=647901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=647901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=647901"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=647901"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=647901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}