Pre-Trading Thoughts

The CBE's MPC is scheduled to meet on Thursday, 2nd November, to decide on interest rates. We expect the CBE to prefer to keep rates unchanged, until further notice, linking interest rate movement to any probable currency movement. The Cabinet said that the country’s gas imports have fallen to zero from a previous 800 million cubic feet of gas per day, naming it as one of the main reasons for the worsening blackouts. GAFI handed out four golden licenses yesterday to Samsung (which will invest...