Bi-Weekly Report 3-16 September 2019


The CBRT aggressively cuts its policy rate for a second time this year (down 325 bps to 16.5%)

Headline inflation resumed its downward trend in August, reaching a 15-month low of 15.0% y-o-y against 16.6% in July



The break-up of the ruling coalition jeopardises the survival of the Government

GDP growth remained strong in Q2:19 (up 4.4% y-o-y, albeit easing from a 5-quarter high of 5.0% in Q1:19), sustained by domestic absorption



GDP growth slowed to a still solid 3.1% y-o-y in H1:19 from 3.9% in FY:18



The CBE cut its key policy rates by 150 bps amid easing inflation and the appreciation of the EGP

GDP growth is estimated to have reached an 11-year high of 5.6% this fiscal year (ending in June 2019), with a significant rebalancing from consumption towards investment and exports



Bi-Weekly Report 3-16 September 2019

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