Pre-Trading Thoughts

The CBE's Monetary Policy Committee decided to maintain the overnight deposit rate, overnight lending rate, and the rate of the main operation steady at 27.25%, 28.25%, and 27.75%, respectively. The MPC attributed the decision to the decline of the inflationary pressures. The Suez Canal Economic Zone (SCZone) saw its revenues grow 36% y-o-y to hit a record EGP8.3 billion during the fiscal year 2023-2024. Suez Canal revenues recorded USD315 million in June, dropping by 63% YoY, due to less tra...