FINANCIAL MARKETS TODAY – 23 September 2024
Money Market Opening system liquidity improved today due to FAAC credits, leading to significant declines in interbank rates. Specifically, the Open Repo Rate (OPR) decreased by 9.54% to 20.15%, and the Overnight Rate (O/N) decreased by 9.17% to 20.80%.…
FINANCIAL MARKETS WEEKLY – 20 SEPTEMBER 2024
Money Markets System liquidity improved this week compared to the previous week, supported by OMO maturities and FGN bond coupon inflows. However, it remained negative, with most Deposit Money Banks (DMBs) relying on CBN’s standing Lending Facility…
FINANCIAL MARKETS TODAY – 19 September 2024
Money Market System liquidity deteriorated today as more DMBs increased exposure to the SLF window. As a result, the Open Repo Rate (OPR) increased by 17 bps to 31.45%, and the Overnight Rate (O/N) rose by 27 bps to 31.83%. Outlook: We expect the…
FINANCIAL MARKETS TODAY – 18 September 2024
Money Market Coupon inflows from FGN bonds mainly drove the improvement in system liquidity today. Despite fewer DMBs exposed to the SLF window, the interbank rates increased. The Open Repo Rate (OPR) rose by 82 bps to 31.28%, and the Overnight Rate…
FINANCIAL MARKETS TODAY – 17 September 2024
Money Market System liquidity improved today, although it remained in the negative territory. Inflows from OMO maturities and FGN bond coupons drove the mild improvement. As a result, the Open Repo Rate (OPR) decreased by 74 bps to 30.46%, and the…
INFLATION WATCH – August 2024
Inflation Watch – Headline Inflation declines further In August 2024, Nigeria’s headline inflation dropped to its lowest level in six months, increasing by 32.15% y/y, which matched the median estimates. This was a decrease from 33.40% y/y in…
FINANCIAL MARKETS WEEKLY – 13 SEPTEMBER 2024
FIXED INCOME MARKETS Money Markets System liquidity remained negative throughout the week, with most deposit money banks (DMBs) experiencing increasing exposure to the SLF window. As a result, the Open Repo Rate (OPR) and the Overnight Rate (O/N)…
FINANCIAL MARKETS TODAY – 12 September 2024
FIXED INCOME MARKETS Money Market The liquidity status in the financial market further deteriorated, but the Open Repo Rate (OPR) and Overnight Rate (O/N) decreased by 23bps and 11bps to 31.00% and 31.53%, respectively. Outlook: We expect a similar theme…
FINANCIAL MARKETS TODAY – 11 September 2024
FIXED INCOME MARKETS Money Market System liquidity worsened today. Thus, the Open Repo Rate (OPR) and Overnight Rate (O/N) increased by 13bps and 11bps to 31.23% and 31.64%, respectively. Outlook: We expect interbank rates to hover at similar levels…
FINANCIAL MARKETS TODAY – 10 September 2024
FIXED INCOME MARKETS Money Market The Open Repo Rate (OPR) increased by 52 bps to 31.10%, and the Overnight Rate (O/N) rose by 48 bps to 31.53%. Outlook: We expect interbank rates to remain elevated tomorrow, in the absence of any major flows. Treasury…
