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    27-Aug-2022

Economist: Interest rates may soon rise in Jordan

 

Roya News

 

Expert in international economics, Mazen Irsheid, said Friday that the state of anticipation that accompanied the speech of the President of the US Federal Reserve is "justified", because the statements will be directly reflected on the prices of energy, food and others globally.
 
Irsheid added that many countries of the world are linked to the US dollar, indicating that raising interest rates to avoid inflation will negatively affect the Jordanian economy.
 
He added that the Central Bank of Jordan will raise interest rates to maintain the attractiveness of the dinar exchange, indicating that the decision will have significant negative effects.
 
This came after US Federal Reserve Chairman Jerome Powell pledged on Friday that the central bank will "use its tools aggressively" to fight inflation, which is still near its highest level in more than 40 years.
 
Powell, in his annual address at Jackson Hole, made a firm commitment to halting inflation, warning that he expected the central bank to continue raising interest rates in a way that would cause "some pain" for the US economy. He pointed out that high interest rates are likely to persist for some time, warning that the historical record prevents premature easing of monetary policy.
 

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