MPC HIGHLIGHT – MAY 2024
During today’s MPC meeting, Dr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria, reiterated that the MPC’s primary focus is to achieve price stability. He also noted the improvement in inflation, particularly the monthly decline…
FINANCIAL MARKETS TODAY – 20 May 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity is estimated to have opened in a deficit of -₦622.46 billion. Consequently, the Open Repo Rate (OPR) increased by 29bps to 30.25%, while the Overnight Rate (O/N) rose by 40 bps to 31.08%. Outlook: We…
FINANCIAL MARKETS WEEKLY – 17 MAY 2024
FIXED INCOME MARKETS MONEY MARKETS This week, system liquidity remained at negative levels and was further exacerbated by the FGN local bonds auction settlement of about ₦682.07 billion (Non-competitive allotment inclusive). By the end of the week, the…
FINANCIAL MARKETS TODAY – 16 May 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity opened negative, despite showing an improvement from yesterday’s balance. It increased from -₦560.07 billion to -₦427.15 billion. Consequently, the Open Repo Rate (OPR) declined by 102bps to 29.86%,…
FINANCIAL MARKETS TODAY – 15 May 2024
FIXED INCOME MARKETS MONEY MARKETS Opening system liquidity plunged lower today from -₦323.25 billion yesterday to -₦560.07 billion today. Consequently, the Open Repo Rate (OPR) increased by 119bps to 30.88%, while the Overnight Rate (O/N) increased by…
INFLATION WATCH – APRIL 2024
Inflation Watch – Nigerian Inflation accelerates to 33.69% in April. In April, Nigeria’s headline inflation increased to 33.69% year-on-year from 33.20% in March 2024 (Bloomberg’s estimate: 34.20%). However, monthly headline inflation grew at…
FINANCIAL MARKETS TODAY – 14 May 2024
FIXED INCOME MARKETS MONEY MARKETS Opening system liquidity declined further today, from -₦298.28 billion reported yesterday to -₦323.25 billion today. Consequently, the Open Repo Rate (OPR) increased by 83bps to 29.69%, while the Overnight Rate (O/N)…
FINANCIAL MARKETS TODAY – 13 May 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity opened short today, at -₦298.28 billion from ₦81.10 billion surplus reported last week Friday. Consequently, the Open Repo Rate (OPR) increased by 86bps to 28.86%, while the Overnight Rate (O/N)…
FINANCIAL MARKETS WEEKLY – 10 MAY 2024
FIXED INCOME MARKETS MONEY MARKETS After a positive opening balance at the start of the week, the sale of ₦260.55 billion worth of OMO bills drained the system liquidity, resulting in a deficit balance. However, liquidity improved towards the end of the…
Monthly Financial Market Update – April 2024
Global Macroeconomic Review United States: The hope for stability in the prices of goods and services continued to wane as the recent inflation data reignited concerns around sticky inflation, uncertainty in the Fed’s policy directions, and overall…
