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…
FINANCIAL MARKETS TODAY – 18 November 2024
Money Market Today, opening system liquidity declined but remained strong. Nonetheless, the Overnight Policy Rate (OPR) fell by 91bps to 25.18%, while the Overnight Rate (O/N) decreased by 1.19% to 25.69%. Outlook: We expect interbank rates to remain…
FINANCIAL MARKETS WEEKLY – 15 NOVEMBER 2024
Money Markets The week started with system liquidity showing a deficit of c.₦60 billion, remaining negative throughout most of the week. However, by the week’s end, it improved to a positive balance of ₦396.75 billion. This recovery was primarily…
INFLATION WATCH – October 2024
Inflation Watch – Economic Strain Intensifies as Inflation Climbs Again to 33.88% in Nigeria In October 2024, Nigeria’s inflation rate rose to 33.88% y/y, surpassing the estimated rate of 33.10% and increasing from 32.70% in September. This…
FINANCIAL MARKETS TODAY – 14 November 2024
Money Market System liquidity worsened further within the deficit zone, leading to a 25 bps increase in the Overnight Policy Rate (OPR) to 32.18%, while the Overnight Rate (O/N) rose by 7 bps to 32.55%. Outlook: We anticipate that interbank rates will…
FINANCIAL MARKETS TODAY – 13 November 2024
Money Market System liquidity declined further into negative territory. Nonetheless, the Overnight Policy Rate (OPR) declined by 10bps to 31.93%, while the Overnight Rate (O/N) fell by 12bps to 32.48%. Outlook: We expect that interbank rates will remain…
FINANCIAL MARKETS TODAY – 12 November 2024
Money Market System liquidity worsened due to some CRR debits, causing interbank rates to trend upward. Specifically, the Overnight Policy Rate (OPR) increased by 1.60% to 32.03%, while the Overnight Rate (O/N) rose by 1.55% to 32.60%. Outlook: We…
