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Sunday, 3 June 2018

On the horizon

The central bank’s monetary policy committee will keep key interest rates unchanged when it convenes for its final meeting for the current fiscal year on 28 June, Standard Chartered’s Bilal Khan suggested, after previously speculating that the MPC would move to cut rates by 100 bps, according to FX Street. Khan had said that the CBE is more likely to adopt a more prudent approach in order to counteract the effect of a rise in inflation as additional energy and fuel subsidy cuts come into effect with the start of FY2018-19 in July.

Saudi Arabia is far more likely than not to win upgrade to MSCI emerging markets status later this month, EFG Hermes suggests, according to a note picked up by the UAE’s The National.

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