US Federal Reserves likely not to decrease interest rates in upcoming meeting: Egypt’s central bank

US Federal Reserves likely not to decrease interest rates in upcoming meeting: Egypt’s central bank

US Federal Reserve is expected to cut the interest rates in its upcoming meeting that will be held in December, which is its last meeting in 2020, in light of the US treasury bonds market performance and the downturn of proceeds curve, the Central Bank of Egypt (CBE) projected in its weekly briefing on the global markets.

The CBE said that the news reported about the new vaccines against the virus updates and the beginning of power transferring to the US elected president Joe Biden have dominated the global markets performance in November.

On emerging markets performance, stock markets are close to achieve its best monthly performance since March 2016, recording profits for the fourth executive week with the improvement in risk taking, the CBE said.

It added that MSCI EM index , Morgan Stanley index for emerging markets, rose by 1.7 percent, and the same index for Latin America (MSCI Latam) went up by 3.52 percent , in addition the same index for Asia except Japan ( MSCI Asia ex. Japan) also inched up by 1.49 percent.

Moreover, emerging markets' currencies saw increases as well from 20 November through 27 November on the back of the decrease