Pre-Trading Thoughts

The CBE decided to raise overnight deposit rate, overnight lending rate, and main operation rate by 200bps to 21.25%, 22.25%, and 21.75%, respectively, citing sustained inflationary pressures and geopolitical uncertainty. An IMF mission team visited Cairo during January 17-February 1, to conduct discussions toward the completion of the first and second reviews of Egypt’s reform program supported by the IMF’s Extended Fund Facility (EFF). There is no consensus on how big the loan will be...