{"id":561976,"date":"2021-04-28T04:00:19","date_gmt":"2021-04-28T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/this-morning-its-interest-rate-day-when-are-we-returning-to-work\/"},"modified":"2021-04-28T04:00:19","modified_gmt":"2021-04-28T04:00:19","slug":"this-morning-its-interest-rate-day-when-are-we-returning-to-work","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/this-morning-its-interest-rate-day-when-are-we-returning-to-work\/","title":{"rendered":"THIS MORNING: It\u2019s interest rate day; when are we returning to work?"},"content":{"rendered":"

Good morning, wonderful people, and welcome to the final workday of the week. <\/strong>Is there anything in the world better than a long weekend?<\/p>\n

<\/a> The country is on holiday tomorrow in observance of Sinai Liberation Day<\/strong>, which fell on Sunday, 25 April. Enterprise will also be taking the day off.<\/p>\n

When will we be back in your inboxes? We still don\u2019t know.<\/strong> Officials have yet to make clear whether Sunday (Coptic Easter) is a bank holiday, nor have they announced when we will observe Sham El Nessim, which falls on Monday. Expect an announcement <\/strong>over the coming days<\/strong>. <\/strong><\/p>\n

Oh, and Saturday is Labor Day<\/strong>, so abandon all hope if you had plans to get government paperwork done this weekend.<\/p>\n

WHAT\u2019S HAPPENING TODAY- <\/strong><\/p>\n

IT\u2019S INTEREST RATE DAY: The Central Bank of Egypt will meet later today to review <\/strong>rates.<\/strong> The Monetary Policy Committee typically meets on Thursdays, but moved the meeting due to the holiday tomorrow. Our poll<\/a> of 14 economists and analysts suggests the committee will leave rates where they are.<\/p>\n

The Federal Reserve will also be announcing whether it will make changes to its policy <\/strong>rate and emergency bond-buying programme<\/strong> when it finishes its two-day meeting later today. Fed chair Jay Powell is expected to announce a continuation of ultra-loose policy, with interest rates staying super low and the USD 120 bn a month QE programme remaining in place and untapered.<\/p>\n

The UN\u2019s special coordinator for the Middle East peace process (we still have one of <\/strong>those?) is in <\/strong>Cairo<\/strong> for a three-day visit, Ahram Gate<\/a> reports. Tor Wennesland will meet with Foreign Minister Sameh Shoukry and Arab League Secretary-General Ahmed Aboul Gheit to discuss recent events in Palestine. Tensions between right-wing Israelis and Palestinians have risen in Jerusalem in recent days<\/a> after anti-Arab violence by Israeli extremists kicked off several nights of clashes<\/a> between protesters and Israeli police.<\/p>\n

What\u2019s at stake? <\/strong>Wennesland\u2019s visit comes as plans for the first Palestinian elections in 15 years, brokered by Egypt and Jordan earlier this year, are on the verge of collapsing as Israel refuses to allow voting in East Jerusalem. More on this in this morning\u2019s Around the World, below.<\/p>\n

South Korea\u2019s Hyundai Rotem and the National Egyptian Railway Industries <\/strong>Company will sign today a memorandum of understanding<\/strong> to assemble railcars in Egypt, Al Masry Al Youm<\/a> reports. President Abdel Fattah El Sisi yesterday discussed<\/a> locally producing railcars and signalling equipment with the CEO of the company.<\/p>\n

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ALSO MAKING NEWS-<\/strong><\/p>\n