CEEMEA Week Ahead: Elections in Israel; CBE and NBU on Hold; CPI in PL and KE; GDP in HU and CZ

In the coming week, national elections will be held in Israel (Tuesday). Moreover, there will be MPC meetings in Egypt and Ukraine (both on Thursday). The first CPI data for October will be released in Kenya (Thursday) and Poland (Friday). Q3 GDP data will be released in Hungary and Czechia (both on Friday). In Israel, opinion polling data remains highly fragmented ahead of the elections and indicates that neither of the two main coalition blocs is likely to achieve a 61-seat majority, with the outcome highly uncertain given the large number of parties contesting, several parties running close to the threshold, and the possibility of post-election coalition switches. In Egypt, we expect the CBE to keep its policy rate on hold at +19.00% (consensus: +19.00%), as headline inflation should remain sticky with upside risks from the ongoing Iran war, its impact on global energy markets and recent pressures on the EGP. In Ukraine, we expect the NBU to hold its policy rate unchanged at +16.00%