Middle East & North Africa Economics Update Central Bank of Egypt holds rates as inflation remains high The Central Bank of Egypt left interest rates unchanged today, but we expect a rate cut later in the year, despite the recent pick-up in inflation. 11th June 2015 · 1 min read
Middle East & North Africa Economics Update Optimism over opening up of Saudi’s stock market seems overdone The move by Saudi Arabia to open up its stock market to foreign investors from next week is a step in the right direction. But, as we explain in this Watch, we think some of the optimism about its... 10th June 2015 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (May) The jump in Egyptian inflation to 13.1% y/y in May was almost entirely driven a sharp rise in food inflation and, as a result, we don’t expect it to have an impact on the MPC’s rate decision tomorrow... 10th June 2015 · 1 min read
Middle East & North Africa Economics Update Egypt: IMF still the best option, but a deal seems unlikely for now Reports in the Egyptian media that the government is set to open discussions on a $6bn financing package with the IMF are likely to prove premature. For now, the authorities seem content to undertake... 2nd June 2015 · 1 min read
Middle East & North Africa Economics Update Egyptian equities rally It has been a quiet month for financial markets in the Middle East, with most stock markets treading water and bond yields staying low. The one exception is the Egyptian equity index, which rose... 28th May 2015 · 1 min read
Middle East & North Africa Chart Pack Saudi Arabia and Egypt follow divergent paths The latest activity data suggest that the MENA region’s two largest economies, Saudi Arabia and Egypt, have headed in opposite directions at the start of 2015. After recording strong growth last year... 27th May 2015 · 1 min read
Africa Economics Update African markets shrug off weak economic news South Africa’s rand rallied over the past month, despite a string of weak economic data suggesting that growth is slowing and inflation is picking up. Nigeria’s naira held steady, but yields on the... 22nd May 2015 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Apr.) Egyptian inflation fell back to 11.0% y/y in April but we think the central bank will wait for inflation to ease further before it cuts interest rates again. The effects of last year’s energy price... 11th May 2015 · 1 min read
Middle East & North Africa Economics Update Central Bank of Egypt shifts attention back on to inflation Interest rate decisions by the Central Bank of Egypt (CBE) are notoriously difficult to predict but it seems that, having been distracted by balance of payments concerns over the past few years... 30th April 2015 · 1 min read
Africa Economics Update Increased financial inclusion will support growth in Africa New figures from the World Bank confirm that Sub-Saharan Africa’s nascent banking sector is developing along a trajectory not seen in other emerging markets. The rapid expansion of a more inclusive... 27th April 2015 · 1 min read
Middle East & North Africa Economics Update Central Bank of Egypt stands pat as inflation rises The decision by the Central Bank of Egypt to leave interest rates unchanged today was a close call, but it looks like the recent rise in inflation tipped the balance on the MPC away from lowering... 23rd April 2015 · 1 min read
Middle East & North Africa Economics Update North Africa: 5-6% growth achievable, but reforms are crucial The outlook for the North African economies of Egypt, Morocco and Tunisia has brightened over the last twelve months and we expect growth to strengthen again this year. Further ahead, low income... 13th April 2015 · 1 min read
Middle East & North Africa Economics Update Assessing the impact of a potential nuclear deal with Iran There are many details that still need to be ironed out, but earlier this month Iran and the West moved another step closer to securing an agreement over Tehran’s nuclear programme. As we explain in... 9th April 2015 · 1 min read
Middle East & North Africa Data Response Egypt Consumer Prices (Mar.) The rise in Egyptian inflation to 11.5% y/y last month was driven almost entirely by a rise in food and utility prices. As a result, we think it’s unlikely to have much impact on monetary policy... 9th April 2015 · 1 min read
Africa Chart Pack Nigerian politics take centre stage All eyes are focused on Nigeria’s election on 28th March, which will almost certainly spark a brief period of political violence when (as seems likely) the losing candidate refuses to accept the... 26th March 2015 · 1 min read
Middle East & North Africa Chart Pack Saudi Arabia refuses to budge Even though oil prices continue to languish at around $55pb, there is still no sign that Saudi Arabia will give in to pressure from other OPEC members to cut oil output. Oil Minister, Ali al-Naimi... 25th March 2015 · 1 min read
