FINANCIAL MARKETS TODAY – 23 July 2024
FIXED INCOME MARKETS Money Market Opening system fell to a negative balance today. Accordingly, the Open Repo Rate (OPR) increased by 591 bps to 31.25%, while the Overnight Rate (O/N) increased by 610 bps to 31.91%. Outlook: We expect interbank rates…
MPC HIGHLIGHT – JULY 2024
During today’s MPC meeting, the committee reaffirmed its hawkish approach to addressing inflation. The CBN governor conveyed confidence in the potential moderation of inflation in the near future, despite the recent upsurge. He attributed this…
FINANCIAL MARKETS TODAY – 22 July 2024
FIXED INCOME MARKETS Money Market Opening system liquidity improved today, driven by inflows from FAAC and FGN bond coupons. Accordingly, the Open Repo Rate (OPR) declined by 605 bps to 25.34%, while the Overnight Rate (O/N) decreased by 621 bps to…
FINANCIAL MARKETS WEEKLY – 19 JULY 2024
FIXED INCOME MARKETS Money Markets System liquidity remained negative throughout the week, as there were no significant inflows. Overall, the Open Repo Rate (OPR) and the Overnight Rate (O/N) fell by 22bps and 43bps to 31.39% and 32.02% respectively,…
FINANCIAL MARKETS TODAY – 18 July 2024
FIXED INCOME MARKETS Money Market Opening system liquidity remained in the negative. Although, some inflows from bond coupon relatively supported system liquidity. Thus, the Open Repo Rate (OPR) declined by 1 bp to 31.84%, while the Overnight Rate (O/N)…
FINANCIAL MARKETS TODAY – 17 July 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity remained negative. Thus, the Open Repo Rate (OPR) increased by 45 bps to 31.85%, while the Overnight Rate (O/N) increased by 30 bps to 32.43%. Outlook: We expect interbank rates to hover around similar…
FINANCIAL MARKETS TODAY – 16 July 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity opened with a negative balance. Nonetheless, the Open Repo Rate (OPR) decreased by 7 bps to 31.40%, while the Overnight Rate (O/N) lost 6 bps to 32.13%. Outlook: We expect interbank rates to stay…
FINANCIAL MARKETS TODAY – 15 July 2024
FIXED INCOME MARKETS MONEY MARKETS Opening system liquidity stayed negative today. However, the Open Repo Rate (OPR) eased by 14 bps to 31.47%, while the Overnight Rate (O/N) decreased by 26 bps to 32.19%. Outlook: We expect interbank rates to remain…
INFLATION WATCH – JUNE 2024
Inflation Watch – The Upward Trend in Month-on-Month Inflation Resumes Nigeria’s headline inflation for June 2024 accelerated to 34.19% y/y from 33.95% y/y in May, according to data from the National Bureau of Statistics (NBS). In addition,…
FINANCIAL MARKETS WEEKLY – 12 JULY 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity balance was in deficit throughout the week, despite a slight improvement from the previous week. Consequently, the Open Repo Rate (OPR) and the Overnight Rate (O/N) declined by 45bps and 8bps to 31.61%…
