FINANCIAL MARKETS TODAY –16 October 2023
FIXED INCOME MARKETS Money Market System liquidity opened at ₦617.61 billion from ₦448.75 billion last Friday. Consequently, the Open Repo Rate (OPR) and the Overnight Rate (O/N) declined by 6bps and 17bps to 0.94% and 1.50%, respectively. Outlook: We…
FINANCIAL MARKETS TODAY –12 October 2023
FIXED INCOME MARKETS Money Market The financial system maintained its buoyant status today, as system liquidity opened at ₦480.69 billion from ₦459.34 billion yesterday. Thus, the Open Repo Rate (OPR) and the Overnight Rate (O/N) declined by 7bps and…
FINANCIAL MARKETS TODAY –11 October 2023
FIXED INCOME MARKETS Money Market System liquidity opened at ₦459.34 billion from ₦496.63 billion yesterday. Thus, the Open Repo Rate (OPR) and the Overnight Rate (O/N) appreciated by 7bps and 9bps to 1.00% and 1.67%, respectively. Outlook: We expect the…
FINANCIAL MARKETS TODAY –10 October 2023
FIXED INCOME MARKETS Money Market System liquidity opened at ₦496.63 billion from ₦510.09 billion yesterday. Nonetheless, the Open Repo Rate (OPR) and the Overnight Rate (O/N) declined by 7bps and 12bps to 0.93% and 1.58%, respectively. Outlook: We…
FINANCIAL MARKETS TODAY –09 October 2023
FIXED INCOME MARKETS Money Market Opening system liquidity declined by 4.28% to ₦510.09 billion from ₦532.89 billion last Friday. Nonetheless, the Open Repo Rate (OPR) and the Overnight Rate (O/N) remained unchanged at 1.00% and 1.70%, respectively.…
FINANCIAL MARKETS TODAY –05 October 2023
FIXED INCOME MARKETS Money Market Following some statutory CRR deductions, the opening system liquidity declined by 55.62% to ₦572.69 billion from ₦1.29 trillion yesterday. Nonetheless, the Open Repo Rate (OPR) and the Overnight Rate (O/N) fell by 110bps…
FINANCIAL MARKETS TODAY –04 October 2023
FIXED INCOME MARKETS Money Market Opening system liquidity ballooned to ₦1.29 trillion today, up by 56.78% from ₦823.07 billion yesterday. However, the Open Repo Rate (OPR) and the Overnight Rate (O/N) increased by 130bps and 155bps to 2.30% and 3.00%,…
Q3 2023 GDP Highlights
NIGERIA’S GDP GREW BY 2.54% IN Q3’2023 In Q3’2023, Nigeria’s Gross Domestic Product (GDP) exhibited a year-on-year growth of 2.54%, slightly below the Bloomberg estimate of 2.85%. This growth marked an improvement from the previous…
FINANCIAL MARKETS WEEKLY – 17 November 2023
FIXED INCOME MARKETS Money Markets System liquidity experienced a shortfall over the week, primarily influenced by the funding of the FGN bond auction. To provide context, there was a 74.96% week-on-week decline in system liquidity, decreasing from…
INFLATION WATCH – October 2023
Nigeria’s Headline Inflation Soared to 27.33%, amidst higher input costs and a weaker naira. In October, Nigeria’s year-on-year inflation rose to 27.33%, up from 26.72% in September 2023, contributing an additional 0.61 percentage points and…
