Pre-Trading Thoughts

It is MPC Week. We expect the CBE to prefer to act aggressively with a 150-bps hike, trying to anchor inflation outlook as well as debt competitiveness on an even keel in light of global monetary tightening. Egyptian officials are in talks with the IMF over potential forms of a new assistance program, which could be either a precautionary and liquidity line or a non-financial policy coordination instrument (Bloomberg) Cabinet raised the prices of household and commercial butane gas cylinders ...