It was in April last year when oil prices hit multi-year lows, the price of Brent crude dipping down to US$19.33/bbl late in the month and West Texas Light hitting
Last week the fixed income markets received two important indicators as to the likely direction of market interest rates. One was the fact that a few members of the Central
The Monetary Policy Committee (MPC) of the CBN meets today and tomorrow to decide upon its Monetary Policy Rate (MPR). We estimate that it will keep the MPR on hold
Inflation continues to rise, with February inflation reported at 17.33% year-on-year after 16.47% y/y in January, and food inflation at 21.79% y/y. Policymakers believe that structural issues are the core
Nigerian markets are famous for not correlating with global markets, but recently it has been wise to pay attention to global bond markets. The rise of the US government 10-year
Q4 2020 GDP was reported last week and it showed Nigeria leaving recession – just. Q4 2020 growth was 0.11% year-on-year (y/y). The non-oil economy reached a respectable level of
How much higher are Nigerian Treasury Bill rates going to rise this year? We think that there are several months of rising rates ahead of us and that we should
What will be the Federal Government of Nigeria’s (FGN) next move when it comes to financing its deficit? Movements in the foreign exchange and open market operation (OMO) markets last
Last week the Monetary Policy Council of the Central Bank of Nigeria (CBN) concluded its two-day meeting by leaving its key policy rate unchanged at 11.50%. After two cuts during
The Monetary Policy Council (MPC) of the Central Bank of Nigeria concludes its bi-monthly meeting later today. The economy may be close to exiting recession and inflation is going up
