{"id":578009,"date":"2022-12-13T04:00:19","date_gmt":"2022-12-13T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/13\/this-morning-what-are-the-chances-of-a-surprise-cbe-meeting-this-week-plus-the-former-king-of-crypto-is-in-cuffs\/"},"modified":"2022-12-13T04:00:19","modified_gmt":"2022-12-13T04:00:19","slug":"this-morning-what-are-the-chances-of-a-surprise-cbe-meeting-this-week-plus-the-former-king-of-crypto-is-in-cuffs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/13\/this-morning-what-are-the-chances-of-a-surprise-cbe-meeting-this-week-plus-the-former-king-of-crypto-is-in-cuffs\/","title":{"rendered":"THIS MORNING: What are the chances of a surprise CBE meeting this week? Plus: the former king of crypto is in cuffs"},"content":{"rendered":"

Good morning, ladies and gents:<\/strong> We have a packed issue for you this morning so let\u2019s jump right in.<\/p>\n

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

<\/a> President<\/strong> Abdel Fattah El Sisi is in Washington for the three-day <\/strong>US-Africa Leaders\u2019<\/a><\/strong>Summit<\/a><\/strong>, which starts today. The event will be the first meeting of African heads of state and a US president in Washington since 2014 and the biggest international gathering in the city since before the covid-19 pandemic in 2020.<\/p>\n

On the agenda:<\/strong> Russia\u2019s war in Ukraine, climate change, trade and covid-19 among other things, according to the Associated Press<\/a>. President Joe Biden will address a US-Africa business meeting, hold meetings with individual African heads of state and host a dinner at the White House. Al Masry Al Youm<\/a> reported yesterday that US officials intend to discuss the disputed Grand Ethiopian Renaissance Dam (GERD). It is unknown whether El Sisi will hold talks with the US president or meet with Ethiopian President Sahle-Work Zewde during his stay in the US capital.<\/p>\n

A play for Africa:<\/strong> As Russia and China strengthen their ties with the continent, the summit is part of the US\u2019 play to increase its influence among African leaders following four years of disengagement under Donald Trump. The administration will offer a sweetener and declare support for making the African Union a permanent member of the G20, a long-standing ambition of African nations that the Washington Post<\/a> suggests could help the US get them on side on issues such as the war in Ukraine and climate change.<\/p>\n

The Federal Reserve starts its two-day policy meeting:<\/strong> Several months of positive inflation data have raised market expectations that the Fed will temper the pace of interest rate increases with a 50-bps hike this week. This would bring to an end a string of four consecutive 75-bps hikes in what has been the central bank\u2019s most aggressive tightening cycle in years.<\/p>\n

A lot will depend on today\u2019s inflation release:<\/strong> Analysts expect<\/a> inflation to have further slowed in November to 7.3%, allowing the Fed to ease the pace of its rate hikes. That said, a hotter-than-expected print could see the central bank go ahead with yet another super-sized hike.<\/p>\n

** The Federal Reserve will announce its policy decision at the end of the meeting tomorrow evening.<\/strong><\/p>\n

On the legislative agenda today:<\/strong><\/p>\n