Pre-Trading Thoughts

MPC meets today. We expect a hike of as much as 200bps, as the CBE keeps an eye on inflation and negative real interest rates. Minister of Finance said that Egypt is negotiating with the IMF on Extended Fund Facility (EFF), Standby Credit Facility (SCF), and Policy Coordination Instrument (PCI). Sovereign Fund of Egypt aims to provide attractive investment opportunities for other global sovereign funds through the IPO fund, of size USD3 - 4 billion. Alhokair is planning to invest around USD13...