Rumours are building the Central Bank of Egypt could convene a surprise meeting later today to deliver another aggressive interest rate hike ahead of the approval of the IMF deal tomorrow. This could signal that the Bank’s grip on the pound will be loosened further, which will keep inflation elevated and monetary policy tight for longer. Elsewhere, Tunisia’s parliamentary elections this weekend could see President Saied cement his power, but at the risk of greater social unrest which could deter foreign investment and even the approval of their much-needed IMF deal. And finally, the Football World Cup will come to a close on Sunday and our concerns that there would be a lacklustre legacy for Qatar appear to be materialising.
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