Pre-Trading Thoughts

Saudi Arabia is extending by one year its USD5 billion deposit at the Central Bank of Egypt (CBE). Subsidized loans to industrial, agricultural, and construction companies will be axed, Deputy CBE Governor said. Borrowers who have already taken out loans under the program will continue to benefit from the subsidized 8% interest rate. However, who want to extend or borrow more under existing facilities will have to do so at prevailing interest rates. MFPC issued 3Q22 consolidated resu...