Moody's raised Egypt's long-term debt rating one notch from Caa1 to B3 and assigned a positive outlook, signaling a possible further upgrade in the coming months. The agency credited fiscal reforms tied to Egypt's $8 billion IMF funding package, which have put government debt and interest burdens on a declining path, albeit from elevated levels. Egypt has ended food aid measures deemed too extensive, and inflation is expected to exceed 13% this year after topping 33% in 2025. Moody's also pointed to stronger revenue collection, expenditure restraint, a flexible exchange rate and tighter monetary policy as strengthening external buffers.
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- Egypt boosted by Moody upgrade as inflation eases and investor confidence grows
Moody's raised Egypt's sovereign credit rating to B3, citing easing inflation, growing business confidence, and fiscal consolidation and structural reforms that reduced government debt and interest burdens. The B3 rating remains six notches below investment grade, but it lifts Egypt out of the 'substantial risk' category, and Moody's gave the country a positive outlook. The shift to a flexible exchange rate and tighter monetary policy has strengthened external buffers and the economy's ability to absorb shocks. Inflation stayed elevated at 13.9 per cent in September as higher oil and gas prices linked to the war in Iran pushed up costs, forcing Egypt to adopt fuel-saving measures. In July, Egypt unlocked about $1.8 billion after clearing an IMF review, and Fitch and S&P Global affirmed their ratings on Egypt the previous week.
- Not going to prejudge: Fed Chair keeps rate outlook open; calls AI positive supply shock
Fed Chair Kevin Warsh declined to signal the central bank's next interest-rate move, saying he would not “prejudge” policy decisions. Speaking at the 2026 IMF and World Bank Annual Meetings, he described artificial intelligence as a “positive supply shock” for the economy over the medium term, though it is hitting demand first. He said the US is seeing a massive investment surge, though the trend is not equally visible across countries, and challenged the view that prolonged economic weakness is inevitable. Major brokerages expect a possible rate hike in December, while markets broadly expect the Fed to hold rates steady at its October 27-28 meeting.
- Not going to prejudge: Fed Chair keeps rate outlook open; calls AI 'positive supply shock'
Fed Chair Kevin Warsh declined to signal the central bank's next interest-rate move, saying he would not 'prejudge' FOMC decisions, during a fireside chat at the 2026 Annual Meetings of the IMF and World Bank Group. He described AI as a 'positive supply shock' over the medium term and said the US is seeing a massive surge in investment, though not equally across countries, challenging the theory of 'secular stagnation.' Warsh said developments over the past month broadly matched Fed expectations and that the central bank will reassess conditions at its October and December meetings. Markets broadly expect no change at the October 27-28 meeting, while some major brokerages see a potential rate hike in December. He also said the Fed will hold its first field hearing of a task force on November 16.
- Not going to prejudge : Fed Chair keeps rate outlook open ; calls AI positive supply shock
Federal Reserve Chair Kevin Warsh declined to signal the central bank's next rate move, saying he would not “prejudge” policy decisions. Speaking at the 2026 IMF and World Bank Annual Meetings, he described artificial intelligence as a “positive supply shock” for the economy over the medium term and said the US is seeing a massive surge in investment. Markets broadly expect the Fed to keep rates unchanged at its October 27–28 meeting, though some major brokerages see a possible rate hike in December. Warsh said the Fed will reassess economic conditions at its October and December meetings and that AI is hitting demand before supply, so policymakers should recognise it as a shock.
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