{"id":631763,"date":"2018-03-27T04:12:31","date_gmt":"2018-03-27T04:12:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/27\/what-were-tracking-on-27-march-2018\/"},"modified":"2018-03-27T04:12:31","modified_gmt":"2018-03-27T04:12:31","slug":"what-were-tracking-on-27-march-2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/27\/what-were-tracking-on-27-march-2018\/","title":{"rendered":"What we\u2019re tracking on 27 March 2018"},"content":{"rendered":"

An interest rate cut by<\/strong> the central bank\u2019s Monetary Policy Committee <\/strong>on Thursday<\/strong><\/a> will not spell the end of the carry trade<\/strong>, EFG Hermes Research believes. 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 Hermes Research head Ahmed Shams El Din said in a statement to MENA news agency<\/a>, but sees foreign appetite staying strong.<\/p>\n

Research houses <\/strong>are unanimous<\/strong><\/a> in saying that the CBE will cut rates again <\/strong>with its Monetary Policy Committee meets this coming Thursday, predicting drops ranging from 50-200 bps. We would not be surprised to see the CBE go for a 50 bps rate cut, sending the right signal, but holding a steeper cut until after it gauges the inflationary impact of subsidy cuts expected in July. But what do we know \u2014 we\u2019re guessing like everyone else. Pharos Research sees a 100 bps rate cut, the firm said in a research note (pdf)<\/a> that we noted earlier this week, and CI Capital also sees a 100 bps dip in the cards this week as inflation continues to ease<\/a>. HC Securities is also expecting a similar rate cut. \u201cAlthough we anticipate energy prices will increase in July, resulting in a one-off inflation hike, we do not see this as a reason to halt monetary easing efforts at the current stage as, according to our numbers, it would not disrupt the CBE\u2019s 4Q18 inflation target,\u201d HC\u2019s Chief Economist Sarah Saada told us in an email yesterday, stressing the importance of of a rate cut to sustainable growth and investment.<\/p>\n","protected":false},"excerpt":{"rendered":"

An interest rate cut by the central bank\u2019s Monetary Policy Committee on Thursday will not spell the end of the carry trade, EFG Hermes Research believes. 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 Hermes Research head Ahmed Shams […]<\/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-631763","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":"31e49a05-d641-4946-997f-7145204a7c3f","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[631761],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking on 27 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\/27\/what-were-tracking-on-27-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 27 March 2018\" \/>\n<meta property=\"og:description\" content=\"An interest rate cut by the central bank\u2019s Monetary Policy Committee on Thursday will not spell the end of the carry trade, EFG Hermes Research believes. 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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\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":594183,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/22\/fitch-forecasts-50-bps-rate-cut-in-november-mpc-meeting\/","url_meta":{"origin":631763,"position":1},"title":"Fitch forecasts 50 bps rate cut in November MPC meeting","author":"enterpriseam admin","date":"22 October 2019","format":false,"excerpt":"Fitch Solutions expects the CBE to cut interest rates by 0.5% before the end of the year, and 1.5% in 2020, Masrawy said, citing a report. The data vendor arm of the ratings agency said that easing inflation and the two consecutive rate cuts in the US will encourage 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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":642527,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/16\/what-were-tracking-this-week-140\/","url_meta":{"origin":631763,"position":2},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"16 August 2017","format":false,"excerpt":"Economists polled by Reuters believe that the central bank is likely to leave interest rates unchanged when its monetary policy committee meets on Thursday. \"High interest rates are acting to dissuade the private sector from investing and, therefore, economic growth will not be optimised, as few new jobs are, so\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":559643,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/31\/keep-it-steady\/","url_meta":{"origin":631763,"position":3},"title":"Keep it steady","author":"enterpriseam admin","date":"31 January 2021","format":false,"excerpt":"ENTERPRISE POLL- CBE expected to leave interest rates on hold in its first meeting of 2021: Eleven out of 12 economists and analysts surveyed by Enterprise expect the Central Bank of Egypt (CBE)\u2019s Monetary Policy Committee (MPC) to leave rates unchanged when it meets this Thursday, 4 February. 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