Middle East & North Africa Data Response Egypt Consumer Prices (Apr.) The further fall in Egyptian inflation in April – to 13.1% y/y – should be enough to prompt the central bank to continue its easing cycle next week. We have pencilled in another 100bp reduction in the... 10th May 2018 · 1 min read
Middle East & North Africa Economics Update Egypt’s current account deficit to narrow further The narrowing in Egypt’s current account deficit has further to run, supported by a recovery in the tourism sector and strong export growth. This will help to limit downward pressure on the pound and... 19th April 2018 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Mar.) The further decline in Egyptian inflation last month, to 13.3% y/y, means the central bank will continue its easing cycle when it next meets in mid-May. We have pencilled in another 100bp reduction in... 10th April 2018 · 1 min read
Middle East & North Africa Economics Update Egypt: what to watch for as al-Sisi’s second term begins A victory for Egypt’s President al-Sisi in this week’s presidential election was never in doubt and attention will now shift to any changes to key policymaking positions. Mr. al-Sisi begins his second... 29th March 2018 · 1 min read
Middle East & North Africa Economics Focus Egypt: what to expect from al-Sisi’s second term? Egypt’s President al-Sisi is certain to emerge victorious in next week’s election and will begin his second term just as the economy is about to enjoy a cyclical upturn in growth. Beyond the next few... 21st March 2018 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Feb.) The further sharp fall in Egyptian inflation last month, to 14.4% y/y, should be enough to persuade the central bank to cut interest rates by a further 100bp at its monetary policy meeting this month... 8th March 2018 · 1 min read
Middle East & North Africa Economics Update Egypt’s easing cycle to be larger than most expect The Egyptian central bank’s easing cycle, which started last night, is likely to result in larger interest rate cuts than most anticipate. We expect an additional 650bp of rate cuts by the end of 2019... 16th February 2018 · 1 min read
Middle East & North Africa Chart Pack Market turmoil fails to derail Egypt’s dollar bond sale Egypt defied the recent turmoil in global financial markets and issued $4bn of international bonds earlier this week. The sale was three times oversubscribed and the issuance was split into three... 15th February 2018 · 1 min read
Middle East & North Africa Economics Update Egypt: private sector credit to support pick-up in growth Bank lending to Egypt’s private sector has been weak for a number of years as the government has leaned on local banks to purchase government bonds, crowding out credit to the rest of the economy. But... 14th February 2018 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Jan.) The further sharp decline in Egyptian inflation in January, to 17.1% y/y, paves the way for the central bank to embark on an easing cycle at its monetary policy meeting next week. And further ahead... 8th February 2018 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Dec.) A further sharp drop in Egyptian inflation in December means that the central bank is likely to embark on an easing cycle at the next monetary policy meeting in February. We expect inflation and... 10th January 2018 · 1 min read
Middle East & North Africa Economics Update Egypt’s easing cycle to be larger than most expect Further sharp falls in Egyptian inflation in the coming months are likely to prompt the central bank to embark on a monetary easing cycle. We expect the benchmark interest rate to be cut to 13.25% by... 3rd January 2018 · 1 min read
Middle East & North Africa Economics Update Egypt holds rates, but December cut on the cards Today’s decision by the Central Bank of Egypt to keep interest rates on hold was not a major surprise given that the recent falls in inflation have been fairly modest. But data to be released in the... 16th November 2017 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Oct.) The further drop in Egyptian inflation in October, to 30.8% y/y from 31.6% y/y in September, is welcome but probably not enough for the central bank to cut interest rates at its meeting next week. We... 9th November 2017 · 1 min read
Middle East & North Africa Chart Pack Regional growth slows further The raft of GDP data released over the past month showed that growth across the Middle East & North Africa continued to slow in Q2. Our weighted-average measure of regional GDP expanded by 1.4% y/y in... 20th October 2017 · 1 min read
Middle East & North Africa Economics Update Egypt: investment key to sustaining manufacturing boom Egypt’s manufacturing sector has been one of the main beneficiaries from a weaker pound but the recent rapid pace of growth will be difficult to sustain in the absence of a significant pick up in... 18th October 2017 · 1 min read
