MPC HIGHLIGHT – FEBRUARY 2024
The highly anticipated Monetary Policy Committee (MPC) meeting, the first since July 2023 and the inaugural session under the leadership of Dr. Olayemi Cardoso following his appointment as the Governor of the Central Bank of Nigeria (CBN), convened on…
FINANCIAL MARKETS TODAY – 26 February 2024
FIXED INCOME MARKETS Money Market System liquidity stayed in the negative at -₦618.07 billion slightly higher than -₦964.76 billion recorded last Friday. Consequently, the Open Repo Rate and Overnight Rate decreased by c.136 bps and c.150 bps to 23.55%…
FINANCIAL MARKETS WEEKLY – 23 February 2024
FIXED INCOME MARKETS Money Markets After a positive open at the start of the week, system liquidity deteriorated significantly due to the substantial debits from the settlement of the NTB and FGN bond auction winnings. Specifically, opening system…
FINANCIAL MARKETS TODAY – 22 February 2024
FIXED INCOME MARKETS Money Market System liquidity deteriorated further, starting at a deficit of -₦1.31 trillion compared to yesterday’s -₦641.23 billion. This decline was primarily attributed to the settlement of the Nigerian Treasury Bills (NTB)…
Q4 2023 GDP Highlights
NIGERIA’S GDP GROWTH RATE AT 2.74% IN 2023 (vs 3.10% IN 2022) Nigeria’s Gross Domestic Product (GDP) witnessed a notable expansion of 3.46% year-on-year in the fourth quarter of 2023, surpassing Bloomberg’s estimate of 2.40%. Although…
FINANCIAL MARKETS TODAY – 21 February 2024
FIXED INCOME MARKETS Money Market The opening system liquidity experienced a significant decline, entering a negative zone at -₦641.23 billion, in contrast to the ₦198.79 billion reported yesterday. Consequently, both the Open Repo Rate and Overnight…
FINANCIAL MARKETS TODAY – 20 February 2024
FIXED INCOME MARKETS Money Market Opening system declined by 50.55% to ₦198.79 billion today, compared to ₦402.00 billion reported yesterday. Consequently, the Open Repo Rate and Overnight Rate increased by 46bps and 57bps to 16.71% and 17.50%,…
FINANCIAL MARKETS TODAY – 19 February 2024
FIXED INCOME MARKETS Money Market Opening system liquidity significantly increased by 420.88% to ₦402.00 billion today, compared to Friday’s close, following some CRR refunds. Nonetheless, the Open Repo Rate and Overnight Rate increased by 46bps and…
FINANCIAL MARKETS WEEKLY – 16 February 2024
FIXED INCOME MARKETS Money Markets System liquidity remained positive throughout the week, albeit experiencing a decrease at week’s end, dropping by 34.22% to ₦77.17 billion compared to ₦117.33 billion the previous week. The Open Repo Rate (OPR)…
INFLATION WATCH – JANUARY 2024
Inflation Watch – Nigeria’s Inflation: To The Moon ! In January 2024, Nigeria’s headline inflation surged, accelerating by 0.98% to 29.90% y/y (estimated at 29.5% y/y), compared to 28.92% y/y in December 2023. Monthly headline inflation…
