As expected, the CBE’s decision to hike interest rates by 200 bps last Thursday and the increase in electricity prices were the main topics of debate on the airwaves last night.

Hona Al Asema’s Lamees Al Hadidi moderated a debate on the interest rate hike between veteran economist Hany Genena and Union Capital Executive Chairman Hany Tawfik.

The CBE is moving in the right direction trying to curb inflation, said Genena in wholehearted support for the decision. He explained that for the first time the bank officially actually said that the hike was only a temporary means to an end. He advised trusting the CBE.

On the other hand, Union Capital’s Tawfik described the hike as “catastrophic.” He argued that it will deter investments and not aid in reducing inflation but actually do the opposite. Regardless of what the CBE does, inflation levels will fall to a 13-15% average by end of 2018 as the effects of the EGP float subside.

Domty Vice Chairman Mohamed El Damaty was of the same mind, saying that the unexpected move to hike interest rates will certainly add to manufacturers’ burdens and likely drive inflation levels up and sales down. The head of the Federation of Egyptian Industries’ food industries division also agreed, telling Lamees that demand for products has already dropped some 25-30% (Watch the full debate, runtime 42:41)

Lamees then moved on to talk about the issue with Vodafone’s Qatar subsidiary changed its name to “Glorious Tamim.” Vodafone Qatar is 70% owned by the Qatari royal family, Vodafone Egypt Chairman Hany Mahmoud told Lamees, explaining that the Vodafone Group, which owns a 23% minority stake in its Qatari operation, was just as surprised by the campaign as everyone else (watch, runtime 5:21).

Lamees also spoke to Suez Canal Authority chief Mohab Mamish, who said that a decision was issued earlier in the day to allow Qatari ships to cross the Suez Canal but not stop at any domestic ports (watch, runtime 4:54).

On Kol Youm, Amr Adib was all about the new power prices. Electricity Minister Mohamed Shaker told Adib that the lowest consumption tiers are still seeing subsidies 4-5x higher than the cost of production (watch, runtime 1:41), while the highest tiers are no longer being subsidized, explaining to the host that 60% of users pay no more than EGP 60 a month for power (watch, runtime 1:51).

The tariffs will decline if the EGP continues to strengthen, Shaker also noted. He also told Adib that the ministry will be switching all users to prepaid or smart meters over the coming five years, explaining that users who have already converted have cut back their consumption significantly (watch, runtime 5:08).

Meanwhile on Masaa DMC, host Eman El Hosary covered the attack against military forces in North Sinai that left at least 26 dead and injured. The State Information Service intends to issue a comprehensive statement on the attack detailing the full story in order to debunk rumors, SIS chief Diaa Rashwan said (watch, runtime: 7:49).