Pre-Trading Thoughts

In line with our expectation, the MPC decided to keep the CBE’s overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged. The Ministry of Petroleum and Mineral Resources announced on Friday the third fuel price increase in 2024. However, prices of Mazut supplied to power plants and food industries have been kept unchanged. The Prime Minister stated that fuel prices will continue shifting gradually until the end of 2025; however, this will be paused ov...