FINANCIAL MARKETS TODAY – 15 October 2021

The National Bureau of Statistics (NBS) confirmed in its monthly report, the nation’s sixth consecutive month of disinflation, with the Consumer Price Index (CPI), which measures inflation settling at 16.63% year-on-year in September 2021 vs 17.01% recorded in August 2021. This rise in consumer prices at 16.63% , higher than Bloomberg’s estimate of 16.50% is attributable to sustained decline in the prices of food items. The food sub-index declined for the sixth consecutive month, to 19.57% year-on-year from 20.30% year-on-year in August 2021, while the All items less farm produce sub-index rose to 13.74% year-on-year from 13.41% year-on-year in August 2021.

FINANCIAL MARKETS TODAY – 14 October 2021

Interbank system liquidity opened with a balance of ca ₦5.59 billion, lower than the previous day’s opening balance of ca ₦75.14 billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended higher to settle at 11.00% and 11.25% from 7.50% and 8.00% respectively, the previous day.

FINANCIAL MARKETS TODAY – 13 October 2021

Interbank system liquidity opened with a balance of ca ₦75.14 billion, lower than the previous day’s opening balance of ca ₦190.61 billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended higher to settle at 7.50% and 8.00% from 5.00% and 5.50% respectively, the previous day.

FINANCIAL MARKETS TODAY – 12 October 2021

Interbank system liquidity opened with a balance of ca ₦190.61 billion, higher than previous day’s opening balance of ca ₦91.98 billion as inflows of ca ₦110.00 billion from Open Market Operations (OMO) maturities impacted the system. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended lower to settle at 5.00% and 5.50% from 10.00% and 10.67% respectively, the previous day.

FINANCIAL MARKETS TODAY – 11 October 2021

Interbank system liquidity opened with a balance of ca ₦91.98 billion, higher than Friday’s opening balance of ca ₦22.67 billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended slightly lower to settle at 10.00% and 10.67% from 14.00% and 14.50% respectively, the previous day.