DUBAI, Sept 25 (Reuters) - Oil-sensitive shares in the Gulf are set to start the week on Sunday on a weak footing after oil sunk 4 percent at the end of last week, while Egypt's index may trade lower after the central bank left key policy rates surprisingly unchanged.

Brent futures tumbled to $45.89 a barrel on Friday on signs Saudi Arabia and Iran were making little progress in achieving preliminary agreement ahead of talks by major crude exporters this week in Algeria aimed at freezing production.

Saudi Arabia's index .TASI which was closed on Thursday because of the kingdom's national day holiday, may underperform its peers as roughly one-quarter of the total market's value is made up of oil-related shares.

"Investors will now turn their focus towards the oil producers' meeting in Algeria this week and the start of the third quarterly results in early October, but the outcome of both events is not looking too positive" said a Jeddah-based portfolio manager.

Egypt's central bank kept its key interest rates unchanged at a monetary policy meeting on Thursday, confounding a unanimous forecast by analysts that it would hike borrowing costs to curb inflation.

The central bank has already raised key policy rates by a total of 250 basis points this year. Cairo's main index .EGX30 was down 0.8 percent last week, but is the best performing Middle East index, up 13.0 percent year-to-date.

The government has been pushing through economic reforms including energy subsidy cuts and a value-added tax. Applied this month, the tax is expected to drive up inflation, which hit its highest level for almost eight years in August. ID:nL8N1BY4X4

(Reporting by Celine Aswad; Editing Michael Perry) ((celine.aswad@thomsonreuters.com)(+9715 62247653)(Reuters Messaging: celine.aswad.thomsonreuters.com@reuters.net))