FINANCIAL MARKETS TODAY – 26 November 2021

FIXED INCOME MARKET Money Markets                                                                                 Interbank system liquidity improved today, opening with a balance of ca ₦168.46 billion, better than the previous day’s opening balance of ca ₦76.66 billion. However, the FX retail auction conducted today drove Open Buy Back (OBB) and Overnight (ON) rates higher to 15.00% and 15.67%… Continue reading FINANCIAL MARKETS TODAY – 26 November 2021

FINANCIAL MARKETS TODAY – 25 November 2021

FIXED INCOME MARKET Money Markets                                                                                 Interbank system liquidity improved today, opening with a balance of ca ₦76.66 billion, better than the previous day’s opening deficit of ca ₦51.81 billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended lower to 2.33% and 3.00% from 8.67% and 9.50% respectively,… Continue reading FINANCIAL MARKETS TODAY – 25 November 2021

FINANCIAL MARKETS TODAY – 24 November 2021

FIXED INCOME MARKET Money Markets                                                                                  Interbank system liquidity improved today, opening in a deficit of ca ₦51.81 billion, better than the previous day’s opening deficit of ca ₦69.74 billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended lower to 8.67% and 9.50% from 15.00% and 16.02% respectively,… Continue reading FINANCIAL MARKETS TODAY – 24 November 2021

MPC retains Benchmark Interest Rate at 11.50% – 23 November 2021

The Monetary Policy Committee (MPC) concluded its final meeting for 2021 today, unanimously maintaining all key policy metrics as follow:   –          Retain MPR at 11.50% –          Retain CRR at 27.50% –          Retain Liquidity ratio at 30.00% –          Maintain an asymmetric corridor at +100/–700 basis points around the MPR. The MPC reiterated the effectiveness of… Continue reading MPC retains Benchmark Interest Rate at 11.50% – 23 November 2021

FINANCIAL MARKETS TODAY – 23 November 2021

FIXED INCOME MARKET The Monetary Policy Committee (MPC) concluded its final policy meeting for the year, retaining all key policy rates – The Monetary Policy Rate (MPR), Cash Reserve Ratio (CRR) and Liquidity ratio at 11.50%, 27.50% and 30.00% respectively while maintaining the asymmetric corridor around the MPR at +100/–700 basis points.  Key considerations by… Continue reading FINANCIAL MARKETS TODAY – 23 November 2021

FINANCIAL MARKETS TODAY – 22 November 2021

FIXED INCOME MARKET Money Markets                                                                                 Interbank system liquidity opened the week with a deficit balance of ca ₦258.72 billion, worse than Friday’s opening deficit of ca ₦237.13 billion. Nevertheless, the Open Buy Back (OBB) and Overnight (ON) rates trended lower at 16.33% and 17.00% from 19.00% and 20.00% respectively, on… Continue reading FINANCIAL MARKETS TODAY – 22 November 2021

FINANCIAL MARKETS TODAY – 19 November 2021

FIXED INCOME MARKET Money Markets Interbank system liquidity tapered today, closing the week with a deficit balance of ca -₦237.13 billion, significantly lower than the previous day’s balance of ca ₦11.25 billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended higher to settle at 19.00% and 20.00% from 13.00% and 13.56% respectively,… Continue reading FINANCIAL MARKETS TODAY – 19 November 2021

FINANCIAL MARKETS TODAY – 18 November 2021

MACROECONOMIC UPDATE The National Bureau of Statistics (NBS) published the Gross Domestic Product (GDP) figures for Q3’2021, which showed that the economy grew by 4.03% year-on-year (vs. 5.01% in Q2’2021 and 0.51% in Q1’2021). This reflects the fourth consecutive quarter of sustained growth after exiting the recession witnessed in 2020. The growth was largely driven… Continue reading FINANCIAL MARKETS TODAY – 18 November 2021

NIGERIA Q3’2021 GDP GROWS BY 4.03% YEAR-ON-YEAR

HIGHLIGHTS •The National Bureau of Statistics (NBS) published the Gross Domestic Product (GDP) figures for Q3’2021, which revealed that the economy grew by 4.03% year-on-year (vs. 5.01% in Q2’2021 and 0.51% in Q1’2021). This reflects the fourth consecutive quarter of sustained growth after exiting the recession witnessed in 2020. •The positive growth was largely driven… Continue reading NIGERIA Q3’2021 GDP GROWS BY 4.03% YEAR-ON-YEAR

FINANCIAL MARKETS TODAY – 17 November 2021

FIXED INCOME MARKET Money Markets  Interbank system liquidity improved today, opening with a credit balance of ca ₦89.66 billion, higher than yesterday’s balance of ca – ₦36.13 billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates eased further to 13.00% and 13.95% from 13.50% and 14.00% respectively, the previous day. Treasury Bills The… Continue reading FINANCIAL MARKETS TODAY – 17 November 2021