Back to the complete issue
Thursday, 29 November 2018

US Federal Reserve signals slowdown on 2019 rate hikes?

US Fed signaling slowdown on 2019 rate hikes? Meanwhile, US Federal Reserve boss Jay Powell gave markets a shot in the arm when he suggested yesterday that US interest rates are “just below … neutral” levels. Analysts have interpreted his remarks (transcript here) as a sign that the Fed may not need to lift interest rates much further. That signal could be good news for emerging markets coming out of a battering in 2018. As we noted yesterday, Morgan Stanley sees a slower rate hikes as being crucial to the prospects for EM this next year.

Powell’s remarks sparked a rally on Wall Street yesterday, helping the Dow “erase its November tumble,” the WSJ reports.

Is the bull run for global stocks entering its finale? That’s the suggestion from a Reuters poll that suggests “a broad cut to forecasts for next year on concerns over global growth and tightening financial conditions.”

The most-clicked stories in Enterprise last week included:

  • The impact on banks of proposed changes to the income tax act (Enterprise and follow-up story)
  • Sweden’s central bank governor on why a state-issued e-currency is necessary in a cashless society. (Sveriges Riksbank, pdf)
  • An Egyptian executioner explains what it’s like to legally kill people. (Vice)
  • Egyptian celebs take a stand against [redacted] harassment in new national campaign. (Facebook video)
  • The very interesting life of an Egypt-born former US spook (ABC | NYT)

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.