We’re really feeling the summer dearth of stories, and to be honest, it feels like Sahel.

The CBE’s Monetary Policy Committee (MPC) is widely expected to keep interest rates on hold when it meets this Thursday. Analysts’ expectations that interest rates will remain unchanged comes despite inflation cooling in July to 13.5% after surging in June. Analysts, including HC’s Sara Saada, see the move as helping the economy to absorb some of the shock of July’s subsidy hikes. Our friends at Pharos see annual headline inflation rising to an average 13.2% in 1Q2018-19, up from an average 12.8% in the fourth quarter of FY2017-18.

PSA- Media reports have surfaced that the EGX and the CBE have declared that the Eid Al Adha holiday will run from Monday, 20 August until Thursday, 23 August. We have yet to see anything official come out from either the CBE or the EGX. It is typical for them to announce their holidays after the Madbouly Cabinet calls the official days, which has not yet happened as of dispatch time. Dar Al Ifta had announced the first day of Eid Al Adha will be Tuesday, 21 August. We’ll keep you posted.