Capital Economics

Even with Ras El Hikma deal, Egypt needs IMF's support: Capital Economics

Thu, 29 Feb 2024 - 07:10 GMT

Middle East and North Africa Economist at Capital Economics, James Swanston, noted that even before the Ras el Hekma deal, investor sentiment towards Egypt had improved in recent months on the back of hopes that a new IMF deal will soon be secured.

Egyptian pound devaluation expected amid inflation concerns, interest rates rise: Capital Economics

Sun, 13 Aug 2023 - 07:33 GMT

Capital Economics projects that the Egyptian pound will depreciate to 35 per dollar by the close of 2023, marking a 12 percent devaluation from its current rate of 30.95 per dollar.

Capital Economics expects Egyptian pound to fall 18% to 24/$ by end-2023 if not sooner

Thu, 27 Oct 2022 - 12:19 GMT

“The move will result in some short-term economic pain but it will help to get an IMF deal over the line and go a long way to restoring macroeconomic stability,” it stated.

Capital Economics expects Egypt's central bank to hike interest rates by 50bp during March

Thu, 10 Mar 2022 - 05:48 GMT

It attributed its anticipation to the increase of inflation Egypt witnessed during February to hit 10 percent, compared to 4.9 percent in the same month of 2021.

Egypt’s gov't continues its commitment to tight fiscal policy, bringing down the public debt ratio: Capital economics

Thu, 24 Feb 2022 - 05:08 GMT

“Over the past eight years, Egypt’s budget balance has significantly improved with the deficit narrowing from nearly 13 percent of GDP at the end of FY2012/13 to 7.4 percent by the start of FY21/22m” he noted.

Egypt's central bank to keep interest rates unchanged during 2021: Capital Economics

Sun, 20 Jun 2021 - 04:16 GMT

It also expected that policymakers will reduce the overnight deposit rate by a total of 150bps the end of next year, taking it 6.75 percent. This is more easing than the consensus currently anticipates.

Capital Economics expects 7.5% depreciation of Egyptian Pound after turning to IMF

Tue, 28 Apr 2020 - 03:36 GMT

The report affirmed that the immediate concern for the IMF is likely to be the exchange rate.

Capital Economics expects Egyptian currency to decline 7.5% by end of 2020

Thu, 09 Apr 2020 - 09:08 GMT

It clarified the decline will take place as the Egyptian authorities would loosen their grip on the pound over the coming weeks.

Capital Economics sees Egypt to continue easing monetary cycle

Wed, 11 Mar 2020 - 04:16 GMT

"We expect the interest rate to be reduced to 10 percent by the end of this year and to 9.50 percent by end-2021," it added.

Capital Economics expects CBE to cut interest rates by 50bps

Wed, 12 Feb 2020 - 02:00 GMT

"We have penciled in a 50bp cut in the overnight deposit rate, to 11.75 percent, at next week’s meeting and expect it to be cut further to 10 percent by year-end.”

Egyptian pound to hit LE17/$ by end of 2020: Capital Economics

Tue, 28 Jan 2020 - 01:21 GMT

It also anticipated that the Central Bank of Egypt (CBE) to resume its easing cycle and lower interest rates by 225bp, to 10 percent by end-2020.

Capital Economics anticipates Egypt to continue monetary easing cycle

Mon, 18 Nov 2019 - 02:20 GMT

The report also thought that the easing cycle has further to run, expecting the overnight deposit rate to be lowered to 10 percent by the end of next year and to 9.50 percent by end-2021.

Capital Economics expects unchanged interest rates despite falling inflation

Wed, 10 Jul 2019 - 04:12 GMT

“A rate cut is more likely at August’s meeting,” the research noted.

Will Egypt reduce its currency?

Tue, 18 Dec 2018 - 04:13 GMT

Capital Economics expected the Central Bank of Egypt (CBE) to keep interest rates unchanged in December’s meeting and inflation to decline.

Inflation rates match expectations, back to downtrend in August

Wed, 11 Jul 2018 - 08:54 GMT

The Central Agency for Public Mobilization and Statistics (CAPMAS) announced that annual consumer price inflation slipped to 13.8 percent in June 2018.

Subsidy cuts to push inflation up in beginning of 2018/19: CE

Tue, 10 Apr 2018 - 12:16 GMT

Capital Economics expected that further decline of the inflation would push the Monetary Policy Committee to cut the interest rates for the third time this year.

Egypt’s economy: The way forward after elections

Wed, 21 Mar 2018 - 06:17 GMT

Assuming the election passes smoothly, Egypt should enjoy an upturn in growth over the next 2-3 years, a report by Capital Economic said.

Egypt’s PMI remains above the series’ long-run average: CE

Mon, 05 Mar 2018 - 01:29 GMT

Capital Economics said that Egypt’s PMI for non-oil private sector edged down from 49.9 in January to 49.7 in February, according to a Monday report.

Sharp decline in inflation sets up rate cut for next week: Capital Economics

Thu, 08 Feb 2018 - 11:32 GMT

Capital Economics maintained its long-held view that Egypt’s inflation and interest rates will fall further than most expected, according to Thursday’s report.

Increase in gas production raises Egypt’s GDP 2.8%: Capital Economics

Tue, 06 Feb 2018 - 01:59 GMT

Capital Economics estimated that the increase in gas production in Egypt will translate into a 2.8 percent increase in the real gross domestic product (GDP).