The Central Bank of Egypt’s Monetary Policy Committee will hold a rare Sunday meeting on 21 May to discuss interest rates. Will the MPC hike rates, as it appears the IMF is pushing it to do? Pharos Holding’s Ramy Oraby suggests it will leave them unchanged, noting that a cool-off in headline consumer price inflation and of the producer price index as well as tight monetary conditions across the economy. Tap or click here to read the full note (pdf).

The Finance Ministry hand out 10% hardship raise for bureaucrats not covered under the Civil Service Act in a single transaction before Ramadan starts, a statement from the ministry carried by Al Borsa said on Thursday. The raise will be applied retroactively from July 2016.

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