Middle East & North Africa Data Response Whole Economy PMIs (Feb.) The latest whole economy PMIs from the MENA region provide further evidence that the fall in oil prices hasn’t caused activity in the Gulf economies to collapse, as some had feared. Indeed, activity... 3rd March 2015 · 1 min read
Middle East & North Africa Economics Update Central Bank of Egypt to hold off from rate cuts until Q3 After a surprise rate cut last month, the Egyptian central bank left interest rates unchanged today. Looking ahead, we think that policymakers will hold off from lowering rates again until the direct... 26th February 2015 · 1 min read
Middle East & North Africa Chart Pack Inflation pressures easing across the MENA region The past month has brought further evidence that inflation is slowing across the MENA region. In Saudi Arabia, inflation now stands at its lowest rate in more than eight years, while price pressures... 26th February 2015 · 1 min read
Middle East & North Africa Economic Outlook Gulf set for weaker growth, North Africa to outperform The fall in oil prices has led to a sharp reversal of fortunes in the Middle East and North Africa. Fears of steep falls in output in the Gulf are overdone, but growth will weaken in the coming years... 12th February 2015 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Jan.) Egyptian inflation fell back in January and looks set to ease further over the coming months. Further interest rate cuts are likely this year, but we suspect that the CBE will wait until the effects... 10th February 2015 · 1 min read
Middle East & North Africa Economics Update Egyptian equities hit seven-year high, pound falls The Egyptian stock market has rallied in the past month, buoyed by the economy’s brightening prospects and hopes that the central bank’s decision to loosen its grip on the pound marks a shift towards... 29th January 2015 · 1 min read
Middle East & North Africa Economics Update Fall in Egyptian pound has further to run We think the depreciation of the Egyptian pound over the past week has further to go and the currency might plausibly weaken to around 8.25/US$ by the end of this year, a 10% fall against the dollar... 28th January 2015 · 1 min read
Middle East & North Africa Economics Update Egyptian pound to fall further as central bank loosens its grip The small fall in the Egyptian pound in the past couple of days is significant given that the central bank had kept a tight grip on the currency since last summer and we think that the pound’s... 19th January 2015 · 1 min read
Middle East & North Africa Economics Update Egypt’s central bank becomes latest to cut interest rates In a surprise decision today, Egypt’s central bank (CBE) became the latest in the emerging world to cut interest rates. Although the slide in oil prices is unlikely to have much direct impact on... 15th January 2015 · 1 min read
Middle East & North Africa Economics Update How the fall in oil prices will benefit North Africa We’ve written extensively in recent months about the losses the Gulf economies face in light of the plunge in oil prices. But in this Watch we explain why the North African economies of Egypt, Morocco... 13th January 2015 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Dec.) The rise in Egyptian inflation last month, which took it back into double-digits, rules out any possibility of an interest rate cut by the Central Bank of Egypt at next week’s meeting. 8th January 2015 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Nov.) Egyptian inflation fell sharply last month on the back of easing food price pressures. If inflation remains in single digits over the coming months, it could prompt the Central Bank of Egypt to cut... 10th December 2014 · 1 min read
Middle East & North Africa Economics Update Egyptian rates on hold amid high inflation The Central Bank of Egypt left its benchmark interest rate unchanged at 9.25% today and, with growth picking up and inflation still high, it looks unlikely that July’s rate hike will be reversed any... 27th November 2014 · 1 min read
Middle East & North Africa Chart Pack Gulf set to resist pressure to cut oil output Comments ahead of today’s OPEC meeting, playing down calls for a cut in the cartel’s output target, suggest that the Gulf States aren’t too alarmed by the recent slide in oil prices. Indeed, Saudi... 27th November 2014 · 1 min read
Middle East & North Africa Economics Update Egypt’s tourism sector finally on the mend Egypt’s tourism sector has turned the corner in recent months and, if this improvement can be sustained, we estimate that it might result in additional revenues of as much as $3.3bn (1.2% of GDP) over... 20th November 2014 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Oct.) The increase in Egyptian inflation last month should not ring too many alarm bells. In fact, it can be almost entirely explained by a sharp rise in education inflation ahead of the new academic year. 10th November 2014 · 1 min read
