{"id":631314,"date":"2018-03-15T03:50:55","date_gmt":"2018-03-15T03:50:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/15\/what-were-tracking-on-15-march-2018\/"},"modified":"2018-03-15T03:50:55","modified_gmt":"2018-03-15T03:50:55","slug":"what-were-tracking-on-15-march-2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/15\/what-were-tracking-on-15-march-2018\/","title":{"rendered":"What we\u2019re tracking on 15 March 2018"},"content":{"rendered":"

<\/a> As we near the central bank\u2019s Monetary Policy Committee <\/strong>meeting a week from today<\/strong><\/a>, research houses are guiding their clients to expect an interest rate cut.<\/strong> The sentiment comes on the back of annual urban inflation falling to 14.4% in February<\/a> from 17.1% in January, inching ever closer to the CBE\u2019s target inflation rate of 13%.<\/p>\n

Who\u2019s saying what? EFG Hermes<\/strong> sees the CBE pushing through a second rate cut of 50-100 bps \u201cbefore the CBE takes a pause to assess the impact of its two rounds of monetary easing on key monetary aggregates. Additional visibility on the next round of energy subsidy cuts \u2026 should also provide more guidance on short-term movement in policy rates,\u201d the firm writes. Pharos<\/strong>\u2019 research department sees a cut of 100 bps at the meeting, which should work in favor of highly leveraged companies and the real estate sector. It sees inflation falling another 200 bps by the end of the year. CI Capital<\/strong>\u2019s research team also sees a 100 bps rate cut this month, projecting interest rates to fall 5% by the end of the year. Mubasher<\/strong> sees the MPC cutting rates a sharp 200 bps as the base effect continues to kick in on the inflation side of the equation, saying the pace of inflation only be slightly affected by the projected wave of subsidy cuts in July as these would not be as drastic as the previous round.<\/p>\n

Meanwhile, our friends at Pharos Holding <\/strong>announced yesterday (pdf)<\/strong><\/a> that they have tapped specialist emerging markets investment bank Exotix USA<\/strong> to act as Pharos\u2019 chaperone partner covering meetings and trades with US clients. Elwy Taymour, Pharos group chairman and co-CEO, said, \u201cWe look forward to working with Exotix USA, Inc. in the USA to expand our joint reach to reach new institutional clients, just as the economic turnaround in Egypt is beginning to attract far larger equity flows into the stock market \u2026 With the wide footprint which Exotix holds in emerging markets, the working relationship with Exotix allows Pharos to inform a wider client base about the Egyptian capital markets and the economy, through our Research product and in sales within our Brokerage division.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

As we near the central bank\u2019s Monetary Policy Committee meeting a week from today, research houses are guiding their clients to expect an interest rate cut. The sentiment comes on the back of annual urban inflation falling to 14.4% in February from 17.1% in January, inching ever closer to the CBE\u2019s target inflation rate of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-631314","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"8d48d759-32e7-4d22-a6b5-bdf1053c351a","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[631312],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 15 March 2018 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/15\/what-were-tracking-on-15-march-2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What we\u2019re tracking on 15 March 2018\" \/>\n<meta property=\"og:description\" content=\"As we near the central bank\u2019s Monetary Policy Committee meeting a week from today, research houses are guiding their clients to expect an interest rate cut. 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The investment bank says foreign purchases of Egyptian treasury bills will see an \u201ceffective\u201d decline in the event the CBE reduces interest rates, EFG\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592825,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/07\/cbe-to-make-third-consecutive-rate-cut-next-week\/","url_meta":{"origin":631314,"position":1},"title":"CBE to make third consecutive rate cut next week","author":"enterpriseam admin","date":"7 November 2019","format":false,"excerpt":"SURVEY- Economists predict CBE will make third consecutive rate cut next Thursday: The Central Bank of Egypt (CBE) could cut benchmark interest rates by 50-100 bps when its Monetary Policy Committee (MPC) meets a week from today, according to five of six economists polled by Enterprise. The economists cited the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632513,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/13\/what-were-tracking-this-week-60\/","url_meta":{"origin":631314,"position":2},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"13 February 2018","format":false,"excerpt":"It\u2019s interest rate week as the CBE\u2019s Monetary Policy Committee meets on Thursday to set interest rates. Most analysts, including HC Securities\u2019 Chief Economist Sara Saada, see a limited interest rate cut coming this week as inflation figures improve and the onus for growth shifts away from legislative reforms to\u2026","rel":"","context":"In "What We\u2019re Tracking This Week"","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567095,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/13\/analysts-split-on-interest-rates-ahead-of-thursdays-cbe-meeting\/","url_meta":{"origin":631314,"position":3},"title":"Analysts split on interest rates ahead of Thursday\u2019s CBE meeting","author":"enterpriseam admin","date":"13 January 2020","format":false,"excerpt":"SURVEY- Analysts split on interest rates ahead of Thursday\u2019s CBE meeting. 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