Rising inflation a “time bomb,” says Deutsche Bank
Rising inflation could be a ticking “time bomb”: Deutsche Bank economists have warned of an impending global economic crisis starting 2023 due to the possible adverse effects of inflation, CNBC reports. The Fed’s plan to maintain its loose monetary policy stance amid higher inflation “could create a significant recession and set off a chain of financial distress around the world, particularly in emerging markets,” Deutsche’s chief economist, David Folkerts-Landau, though most on Wall Street second the Fed’s outlook that current inflationary pressures are only temporary.
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EGX30 |
9,963 |
-1.4% (YTD: -8.1%) |
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USD (CBE) |
Buy 15.62 |
Sell 15.72 |
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USD at CIB |
Buy 15.62 |
Sell 15.72 |
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Interest rates CBE |
8.25% deposit |
9.25% lending |
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Tadawul |
10,735 |
+0.1% (YTD: +23.5%) |
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ADX |
6,670 |
+0.4% (YTD: +32.2%) |
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DFM |
2,835 |
-0.1% (YTD: +13.8%) |
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S&P 500 |
4,227 |
-% (YTD: +12.5%) |
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FTSE 100 |
7,095 |
+0.3% (YTD: +9.8%) |
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Brent crude |
USD 72.22 |
+1.0% |
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Natural gas (Nymex) |
USD 3.13 |
+0.1% |
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Gold |
USD 1,894.20 |
-% |
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BTC |
USD 33,685 |
-1.8% (as of midnight) |
The EGX30 fell 1.4% yesterday on turnover of EGP 1.7 bn (23.5% above the 90-day average). Regional investors were net buyers. The index is down 8.1% YTD.
In the green: Telecom Egypt (+10.7%), Madinet Nasr Housing & Development (+4.0%) and TMG Holding (+2.0%).
In the red: Pioneers Holding (-4.3%), Fawry (-4.0%) and CI Capital (-3.5%).