Bilal Khan, senior economist at Standard Chartered, notes that the Central Bank of Egypt (CBE) lowered its policy rate (the overnight deposit rate) by 150bps to 14.25% on 22 August, in line with Standard Chartered’s expectations. Key Quotes “The Bloomberg consensus forecast was for a 100bps cut. We think the (dis)inflation outlook supports further easing; global market sentiment is the key source of uncertainty on Egypt’s monetary policy path.” “The CBE said future decisions will be guided by “inflation expectations” rather than past CPI prints. We forecast that inflation will remain well anchored in the coming months, well within the CBE’s target of 9% +/- 3ppt for end-2020. We maintain our call for another 400bps of cuts for the rest of FY20 (year ending June 2020).” “The main risk to our call is global financial-market sentiment towards EM and the impact of further CBE easing on offshore holdings of Egyptian debt.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin price analysis: BTC/USD fails to hold above $10,200; will the 50 SMA hold? FX Street 4 years Bilal Khan, senior economist at Standard Chartered, notes that the Central Bank of Egypt (CBE) lowered its policy rate (the overnight deposit rate) by 150bps to 14.25% on 22 August, in line with Standard Chartered's expectations. Key Quotes "The Bloomberg consensus forecast was for a 100bps cut. We think the (dis)inflation outlook supports further easing; global market sentiment is the key source of uncertainty on Egypt's monetary policy path." "The CBE said future decisions will be guided by "inflation expectations" rather than past CPI prints. We forecast that inflation will remain well anchored in the coming months, well within the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
