Mohamed El-Homsani, the official Cabinet spokesperson, said the meeting addressed several important issues related to price stability and the availability of different products in the market, particularly with the approach of the holy month of Ramadan.
He explained that the meeting reviewed the impact of the
CBE’s recent decision, issued last Thursday, to cut interest rates by 100 basis
points.
El-Homsani added that the talks also discussed the effect of
the rate cut on encouraging further investment across various sectors, in light
of the successive reductions in deposit returns.