A new possible hike in interest rates could lure investors to pump their cash into banking assets and abandon other relatively high-risk assets like stocks. Stock market analysts questioned by Daily News Egypt expect a possible hike to impact Egyptian stocks in the short and medium term. “The market has already started to take a downtrend based on signs of the possible rate hike,” said Sameh Gharib, head of technical research at Roots Stock Brokerage House. “There was selling pressure last week after the news of a possible interest rate hike,” Mohammed Amin, a Cairo-based trader told Daily News Egypt. “In the short-term, investors will track any signs of a possible rate hike, taking into consideration that the CBE may delay that step,” Amin added.

Source: Daily News Egypt May 01, 2017 13:41 UTC