Monthly Financial Market Update – September 2024
Global Macroeconomic Review United States: The US Federal Reserve made a significant decision to cut its interest rates for the first time in over four years. The key lending rate was reduced by 0.5 percentage points to 4.75% – 5%. The…
FINANCIAL MARKETS TODAY – 07 October 2024
Money Market Opening system liquidity improved to start the week but remained in negative territory, keeping the interbank rates elevated. Specifically, the Open Repo Rate (OPR) and the Overnight Rate (O/N) increased by 5bps and 4bps to 32.28% and…
FINANCIAL MARKETS WEEKLY – 04 OCTOBER 2024
Money Markets System liquidity started with a credit balance of around ₦709 billion but dropped by over ₦1.4 trillion. This decrease was caused by various factors including CBN’s FX intervention settlements, CRR activities, and OMO auction…
FINANCIAL MARKETS TODAY – 03 October 2024
Money Market System liquidity opened significantly lower today, with most participants relying on the SLF window to fund their operations. Interbank rates closed higher due to the OMO auction conducted today. Specifically, the Open Repo Rate (OPR) and…
FINANCIAL MARKETS TODAY – 02 October 2024
Money Market System liquidity opened lower today compared to the previous day. As a result, the Open Repo Rate (OPR) and the Overnight Rate (O/N) increased by 94 bps and 96 bps to 28.98% and 29.68%, respectively. Outlook: We anticipate that interbank…
