Pre-Trading Thoughts

Egypt and Turkey seek to boost trade from USD5 billion to USD15 billion over the next five years. The two countries signed 18 MoUs to strengthen cooperation on transport, energy, defense, education, tourism, health, culture, agriculture, and finance. The Central Bank of Egypt’s (CBE) Monetary Policy Committee is meeting later today to review interest rates. We remind you that we expect the CBE to keep the current rates on hold, with a potential rate cut in 4Q24, or - more conservatively - in ...