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Standard Chartered raises its policy rate forecast to 9.25% for both FY20 and FY21
Annual headline inflation increased due to higher annual food contribution which offset lower contribution of non-food items
CBE to review interest rate Thursday in light of new inflation figures
Anticipated decline is based on favourable base-year impact, food price consolidation
The highest growing category annually remains education, showing a 28.5% y-o-y rise, followed by recreation and culture, as well as transportation, growing at 14.3 % and 13.4% y-o-y in March, respectively
The CBE added that its consumer price index (CPI) inched up to 0.4% in March, compared to 0.2% in February and 0.5% in March 2019.
As for the annual inflation, it fell to 4.6% in March, compared to 4.9% in the preceding month, and 13.8% in March 2019.
Current headline inflation rate stands at 5.3%, core inflation at 1.9%
Annual headline inflation down to 5.3% in February
Accordingly, the annual core inflation rate recorded 1.9% in February 2020, compared to 2.7% in January 2020.
CBE said that monthly core inflation recorded 0.7% in January 2020 from 0.4% in January 2019, annual core inflation increased to 2.7% in January 2020
The rise was supported by increase in prices of meat, poultry, and vegetables on monthly basis
I expect a rate cut from 2% to 3%, exchange rate to EGP 14-15: Abdel Aal
However, the annual inflation rate during December 2019 decreased compared to December 2018, when it recorded 11.1% at the time
The road is now more paved than ever for the CBE to follow inflation targeting, says analyst
Annual headline Inflation rose to 2.7% from 2.4% in October
Overnight deposit rate to record 10.13% in 2020, and 9.58% in 2021
Strong economic growth should stoke price pressures ahead
Fitch forecasts Egypt’s GDP growth to average 4.5% y-o-y to 2028, from 3.6% in 2009-2018 period
Despite improving macro conditions and consumer spending behaviour, Pharos expects muted growth in Juhayna, Domty and Obour Land companies’ core product offerings caused by existing market maturity in their respective segments.
Naeem: the inflation reading adds further room to the CBE to continue on its path of monetary easing
Inflation recorded positive increase in September, lower than our expectations
Market lack of response to lower operating costs and lower gas and gasoline prices adds some caution to the upward outlook
Research firm predicts further 50 bps rate cuts in the next MPC meeting in 14 November
Credit rating agency expects Egypt’s GDP to grow 5.6% in 2019, additional rate cuts next year
Demand growth back on track on more positive economic outlook, with margins reverting back to historical averages
Lowering interest rates positively impacts investment in Egypt, says Kypreos
Some experts suggest citizens cannot yet feel decline due to other services not included by CAPMAS
The EGX30 index rose 1.2% during the last week’s trading to settle at 15,110 points, and while the EGX70 rose 0.6%, closing at 556 points.
EFG Hermes, Pharos forecast 1-2% interest rate cut at next MPC meeting