{"id":606832,"date":"2023-09-21T00:00:00","date_gmt":"2023-09-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/this-evening-govt-is-in-talks-for-more-uae-financing-for-wheat-imports-its-interest-rate-day\/"},"modified":"2023-09-21T00:00:00","modified_gmt":"2023-09-21T00:00:00","slug":"this-evening-govt-is-in-talks-for-more-uae-financing-for-wheat-imports-its-interest-rate-day","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/21\/this-evening-govt-is-in-talks-for-more-uae-financing-for-wheat-imports-its-interest-rate-day\/","title":{"rendered":"THIS EVENING: Gov\u2019t is in talks for more UAE financing for wheat imports + It\u2019s interest rate day"},"content":{"rendered":"

Good afternoon, wonderful people, and a very, very happy THURSDAY. <\/strong> We\u2019re rounding out what has been an eventful week for us here at Enterprise with a relatively calm news day (although those tides may change course later in the evening). <\/p>\n

THE BIG STORIES TODAY<\/p>\n

<\/strong> Are we looking for more UAE funding for our wheat? <\/strong>The government is reportedly in early talks with an unnamed Abu Dhabi-based bank to finance wheat imports from Kazakhstan, Reuters<\/a> reports, citing three wheat traders and sources who have knowledge of the matter. Traders were informed about the potential funding for the wheat imports yesterday through a General Authority for Supply Commodities (GASC) wheat tender, according to Reuters.<\/p>\n

IT\u2019S INTEREST RATE DAY- <\/strong> The Central Bank of Egypt (CBE) is expected to leave interest rates unchanged when it meets later today, according to our customary poll<\/a> of analysts. All seven of the people we spoketo think the CBE will leave rates on hold thanks to easing monthly inflation and the need <\/strong>to retain policy space for a widely anticipated devaluation. <\/p>\n

THE BIG STORY ABROAD <\/strong><\/p>\n

It\u2019s another somewhat mixed bag in the international business press<\/strong>, although monetary policy decisions are capturing headlines abroad ahead of our own monetary policy committee meeting. Turkey enacted another rate hike, with a massive 500 bps increase as it tries to control the inflation gripping the country, Bloomberg<\/a> notes. Meanwhile, the Bank of England left interest rates on hold at 5.25% on account of better inflation data acquired in August, the Financial Times<\/a> reports. <\/p>\n

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** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM: <\/strong><\/p>\n