Another Fed hold next week? Slowing inflation and signs of weakness in the labor market will likely see the US Federal Reserve leave rates on hold for a second consecutive meeting next week, according to the Wall Street Journal’s Nick Timiraos.

Times are changing: The Journal reports that there are now two camps on the Fed board: one that favors further hikes in anticipation of a potential rise in inflation in the coming months, and another that is calling for a pause on tightening and holding rates higher for longer. Which one of these camps will swing the vote at the central bank’s November and December meetings remains to be seen.

EGX30

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Sell 30.96

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THE CLOSING BELL-

The EGX30 rose 1.0% at yesterday’s close on turnover of EGP 1.9 bn (9.6% below the 90-day average). Foreign investors were net sellers. The index is up 34.1% YTD.

In the green: Abu Qir Fertilizers (+6.2%), Eastern Company (+4.7%) and Telecom Egypt (+4.3%).

In the red: Oriental Weavers (-1.5%), Edita (-1.1%) and Sidi Kerir Petrochemicals (-1.1%).

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