{"id":558338,"date":"2021-08-05T04:31:35","date_gmt":"2021-08-05T04:31:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/05\/this-morning-its-interest-rate-day-2\/"},"modified":"2021-08-05T04:31:35","modified_gmt":"2021-08-05T04:31:35","slug":"this-morning-its-interest-rate-day-2","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/05\/this-morning-its-interest-rate-day-2\/","title":{"rendered":"THIS MORNING: It\u2019s interest rate day;"},"content":{"rendered":"

Good morning, friends, and welcome to another busy news morning as this first week of <\/strong>August starts drawing to a close.<\/strong> We hope those of you stuck with us here in the capital are managing to stay cool. And for those of you enjoying the much cooler weather in Sahel? We will not give you the evil eye. We will not give you the evil eye. We will not\u2014<\/p>\n

Anyway\u2026 It\u2019s interest rate day today:<\/strong> The Central Bank of Egypt meets today to review interest rates. Analysts we talked to last week<\/a> see the CBE playing it safe and leaving rates unchanged.<\/p>\n

The reasoning:<\/strong> The potential for a pick-up in inflation in the coming months and a need to maintain Egypt\u2019s world-beating real rates, analysts told us.<\/p>\n

Where rates currently stand:<\/strong> The overnight deposit rate is at 8.25%, the lending rate at 9.25% and the main operation and discount rates are at 8.75%.<\/p>\n

THE BIG STORY ABROAD? Two are actually two stories vying for your attention:<\/strong><\/p>\n

Is someone trying to take Robinhood \u201cto the moon\u201d? <\/strong>No-fee brokerage app Robinhood extended its rally to a second day, with retail investors \u201cflocking\u201d to the shares of the app that they used earlier this year to spark a \u201cfurious rally\u201d in meme stocks including GameStop and AMC. After a disappointing IPO<\/a>, Robinhood\u2019s shares are now up more than 100% for the week<\/strong>. The story is front page everywhere from the Financial Times<\/a> to Bloomberg<\/a> and CNBC<\/a>.<\/p>\n

A close second: US corporates are split on whether to demand their employees get <\/strong>vaccinated \u2014 but Washginton is pretty sure it wants you to be jabbed before you step on \u2018Murican soil. <\/strong>Tyson and Walmart are the latest major American corporations to say they will require all of their staff to take a covid-19 vaccine<\/a>, joining Microsoft, Google and Facebook. General Electric, Caterpillar and three big US auto makers are not requiring their staff be jabbed, the Wall Street Journal reports. Meanwhile, Reuters has an exclusive claiming the Biden administration is developing a plan that will \u201crequire nearly all foreign visitors to the United States to be fully vaccinated<\/a> against COVID-19 as part of eventually lifting travel restrictions that bar much of the world from entering the United States.\u201d<\/p>\n

SIGN OF THE TIMES- Fund manager Vanguard will offer its employees USD 1k to get <\/strong>vaccinated<\/strong>. Employees who are vaccinated by October are eligible for the incentive, the investment giant said in a statement to CNBC<\/a>.<\/p>\n

** CATCH UP QUICK <\/strong>with the top stories from yesterday\u2019s edition of EnterprisePM:<\/strong><\/p>\n