FINANCIAL MARKETS TODAY – 30 September 2024
Money Market Opening system liquidity remained buoyant to end the month. Thus, the Open Repo Rate (OPR) and the Overnight Rate (O/N) declined by 140 bps and 130 bps to 28.03% and 28.72%, respectively. Outlook: We expect the interbank rates to continue to…
FINANCIAL MARKETS WEEKLY – 27 SEPTEMBER 2024
Money Markets System liquidity improved significantly this week, mainly due to inflows from FAAC, FGN bond coupons, and the maturity of FGN Sukuk 2024. The major highlight for the week was the increase in MPR by 50bps to 27.25% and the increment of the…
FINANCIAL MARKETS TODAY – 26 September 2024
Money Market Opening system liquidity improved today, supported by FGN Sukuk 2024 maturity. However, the interbank rates closed higher due to the OMO auction sale during the day. Specifically, the Open Repo Rate (OPR) and the Overnight Rate (O/N)…
FINANCIAL MARKETS TODAY – 25 September 2024
Money Market Opening system liquidity declined today due to debits for the FGN bond auction. The interbank rates showed mixed numbers, with the Open Repo Rate (OPR) decreasing by 5 bps to 20.28%, while the Overnight Rate (O/N) increased by 7 bps to…
FINANCIAL MARKETS TODAY – 24 September 2024
Money Market Opening system liquidity improved further today as more credits entered the system. However, the Open Repo Rate (OPR) and the Overnight Rate (O/N) increased by 18bps and 8bps to 20.33% and 20.88%, respectively. Outlook: We anticipate that…
MPC HIGHLIGHT – SEPTEMBER 2024
At today’s MPC meeting, the committee reaffirmed its hawkish stance by increasing the benchmark interest rate by 50 basis points to 27.25%. Despite the widely anticipated decision to maintain the current stance, in light of the recent lower…
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…
