Pre-Trading Thoughts

The MPC is scheduled to meet later today to decide on interest rates. We believe the CBE has the room to ease by up to 200 bps in its meeting today. The Finance Ministry has more than doubled its target for international debt issuances in the draft budget for the next fiscal year, coming in at a total of EGP400 billion (USD8 billion), up from EGP150 billion (USD3 billion) in the current fiscal year, according to official figures. Remittances from Egyptians abroad continued their upward ...