Pre-Trading Thoughts

Annual urban inflation jumped to 37.4% in August from 36.5% in July. Core inflation — which strips out volatile items such as food and fuel — recorded 40.4% y-o-y in August, down marginally from 40.7% in July. We believe the CBE will press the pause button on its upcoming meeting on 21st September, especially to assess the impact of the 100bps hike decided in its last meeting on August 3rd. The decision might be supported by a probable slowdown in the Fed tightening. Minis...