Monthly Financial Market Update – June 2023
Global Macroeconomic Review In the early period of June, the World Bank revised global GDP growth rate for 2023 from 1.7% predicted in January, to 2.10%. The World Bank expects the greater-than-expected resilience felt in the economy to dissolve out…
Monthly Financial Market Update – April 2023
Macroeconomic Review Nigeria’s Inflation-Reflecting the known reality Nigeria’s inflation for March 2023 rose to 22.04% Y-o-Y (Est. +21.80%), an increase of c.0.13% from 21.91% Y-o-Y recorded in February 2023. Moreso, headline inflation printed higher at…
Monthly Financial Market Update – March 2023
Macroeconomic Review Nigeria’s Inflation – Annual headline inflation nudged higher Nigeria’s annual inflation rate increased to 21.91% in February 2023, up from 21.82% the previous month and beyond market expectations of 21.85%. Food prices, the…
Monthly Financial Market Update – February 2023
Macroeconomic Review Nigeria’s GDP- The Silver Lining? The Africa’s largest economy posted a real gross domestic product of N21.04 trillion, depicting 3.52% growth for Q4 and 3.10% growth for 2022, as revealed by the National Bureau of Statistics.…
Monthly Financial Market Update – January 2023
Macroeconomic Review Nigeria’s inflation – About time for “law of gravity”? After the sustained increase in Nigeria’s inflation for the most part of 2022, Dec’2022 inflation turned out to be an outlier, as the National Bureau of Statistics reported…
Monthly Financial Market Update – December 2022
Macroeconomic Review Inflation continues to blow hot in the Nigerian Economy, dampens yuletide celebrations Nigeria’s inflation for November 2022 quickened to 21.47% Y-o-Y (Est. +21.30%), an increase of c.0.38% from 21.09% Y-o-Y recorded in October 2022.…
Monthly Financial Market Update – November 2022
Macroeconomic Review Q3:2022 growth numbers for Nigeria and sustained hawkish CBN amid mounting inflationary pressures The Nigerian economy grew by 2.25% Y-o-Y (Est. 2.90%) in the third quarter of 2022 (vs 3.54% and 4.03% recorded in Q2:2022 and Q3:2021…
Monthly Financial Market Update – October 2022
Macroeconomic Review Nigeria’s CPI hits new 17-year High of 20.77% in September The Nigerian Bureau of Statistics (NBS) reported headline inflation for the month of September 2022 at 20.77%, the highest printed since September 2005. This represents an…
Monthly Financial Market Update – September 2022
Macroeconomic Review CBN hikes benchmark interest rate to 15.50% as inflation accelerates to 20.52% in August At the penultimate Monetary Policy Committee (MPC) meeting for 2022, the Committee voted unanimously to raise the Monetary Policy rate by 150bps…
Monthly Financial Market Update – August 2022
Macroeconomic Review Nigerian Economy Grew Faster than expected in Q2 2022 while CPI Soared to a high of 19.64% in July Nigeria’s Real Gross Domestic Product (GDP) reportedly grew by 3.54% Y-o-Y in the second quarter of the year (beating the Bloomberg…
