FINANCIAL MARKETS TODAY – 28 November 2024
Money Market System liquidity improved significantly today, supported by FAAC inflows. However, the illiquidity in the interbank market continued, as it remained in the deficit region. Overall, interbank rates experienced some relief, with the Overnight…
FINANCIAL MARKETS TODAY – 27 November 2024
Money Market System liquidity improved slightly but continued to be negative. As a result, interbank rates remained elevated, with the Overnight Policy Rate (OPR) falling by 22 bps to 31.78% and the Overnight Rate (O/N) decreasing by 21 bps to 32.50%.…
FINANCIAL MARKETS TODAY – 26 November 2024
Money Market System liquidity fell deeper into negative territory. Consequently, interbank rates stayed high, with the Overnight Policy Rate (OPR) settling at 32.00%, while the Overnight Rate (O/N) rose by 15 bps to 32.71%. Outlook: We anticipate that…
MPC HIGHLIGHT – NOVEMBER 2024
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its final meeting for 2024 today and decided to increase the benchmark interest rate by 25 bps to 27.50%. This marks the sixth consecutive rate hike this year as part of…
FINANCIAL MARKETS TODAY – 25 November 2024
Money Market System liquidity remained weak and continued to be negative, although there was a slight improvement compared to the closing figures from the previous week. As a result, the Overnight Policy Rate (OPR) decreased by 13 bps to 32.06%, while…
Q3 2024 GDP Highlights
NIGERIA’S GDP GREW AT 3.46% IN Q3’24 YoY The Nigerian GDP report for Q3 2024 revealed a growth rate of 3.46% year-on-year, an improvement from the 3.19% recorded in Q2. The services sector remains dominant, contributing around 53.58% of GDP…
FINANCIAL MARKETS WEEKLY – 22 NOVEMBER 2024
Money Markets System liquidity began on a strong note; however, debits due to the FGN bond (c.₦346 billion) and NTB auctions (Net withdrawal around ₦83.04 billion), along with the settlement of the CBN’s FX intervention, reduced liquidity in the…
FINANCIAL MARKETS TODAY – 21 November 2024
Money Market Liquidity in the system weakened due to the settlement of the NTB auction which resulted in a net debit of ₦83.04 billion. As a result, interbank rates rose further, with the Overnight Policy Rate (OPR) increasing by 55 bps to 32.25% and the…
FINANCIAL MARKETS TODAY – 20 November 2024
Money Market System liquidity declined significantly today due to the settlement of the FGN bond auction winnings, which amounted to c.₦346 billion, and the CBN’s FX intervention settlement. As a result, interbank rates increased significantly,…
FINANCIAL MARKETS TODAY – 19 November 2024
Money Market Today, system liquidity decreased but maintained a fairly liquid position, bolstered slightly by Swap maturities and OMO maturities of c.₦6.38 billion, despite the settlement of CBN’s FX interventions. Interbank rates generally…
