Economic analyst Zeinab Nawar said that the decision of England’s bank about raising the interest rate to reduce inflation is a normal one
Economic analyst Zeinab Nawar said that the decision of England’s bank about raising the interest rate to reduce inflation is a normal one as every country around the world is trying to absorb one of the main consequences of the Russia-Ukraine war which is the increasing level of prices.
In a phone call with (The Breakfast Show), Nawar illustrated that Russia is one of the giant economies in the world that are exporting about 17% of the energy resources for the entire world especially for Europe. Thus, she reaffirmed, it is a huge crisis as it is related to the energy used and is related to the main exporter of energy to Europe, pointing to England as one of the European countries that is trying to swallow the increase in prices through the increase in the interest rate.
However, the economic expert urged countries that increase the interest rate to be very careful as when you increase the interest rate, you may also cause a recession; especially we are in the post corona period. She regretted that we are in a crisis that is not easy to deal with. Thus, each country is trying to put policies that would slow down the activity temporarily to decrease the inflation and decrease the increase in the pricing value.
As for the investors’ attitude, Dr. Zeinab Nawar noted that the investors’ manner is the same worldwide. In the time of high inflation rate, investors would not be encouraged to produce, she said, claiming that unfortunately such an attitude will increase recession. She agreed that the Central Banks around the world are doing their best. They are trying to work on the interest rate to lessen the repercussions of the war but we have to recognize that Russia is one of the main exporter of energy worldwide and one of the main exporter of grain and fertilizers, she noted, believing that it is a huge economy that has an international and big weight. She finally pointed out the recession in the scene, hoping it will not last for longer than this.
Breakfast Show is aired daily on Nile TV International and this episode is presented by Dina Hussein.
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