FINANCIAL MARKETS TODAY – 05 December 2024
Money Market System liquidity remained strong but experienced a slight decline due to the settlement of the NTB auction (net debit of ₦173.44 billion). Consequently, interbank rates increased, with the Overnight Policy Rate (OPR) rising by 50 bps to…
Monthly Financial Market Update – November 2024
Global Macroeconomic Review United States: In the third quarter of 2024, the U.S. economy demonstrated notable resilience, growing by 2.8% thanks to strong consumer spending and increased business investment in equipment. This uptick in consumer…
FINANCIAL MARKETS TODAY – 04 December 2024
Money Market Increased inflows improved interbank liquidity further today. As a result, interbank rates relaxed further, with the Overnight Policy Rate (OPR) dropping by 20 bps to 26.36% and the Overnight Rate (O/N) decreasing by 40 bps to 26.71%.…
FINANCIAL MARKETS TODAY – 03 December 2024
Money Market System liquidity improved further today due to additional inflows. Consequently, interbank rates eased further, with the Overnight Policy Rate (OPR) decreasing by 62 bps to 26.56% and the Overnight Rate (O/N) falling by 78 bps to 27.11%.…
FINANCIAL MARKETS TODAY – 02 December 2024
Money Market System liquidity improved significantly, supported by outstanding FAAC disbursements, remita inflows, and other inflows credited into the market. As a result, the interbank rates eased; specifically, the Overnight Policy Rate (OPR) decreased…
FINANCIAL MARKETS WEEKLY – 29 NOVEMBER 2024
Money Markets System liquidity started on a low note with a deficit of c.₦ 269 billion. It stayed in a deficit for most of the week, even with substantial inflows from FAAC. However, this was insufficient to enhance market liquidity significantly due to…
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…
