Central bank Nigeria

Nigeria | Easing Cycle Over but Committee to Hold-Off on Tightening

LAGOS, Nigeria, Capital Markets in Africa —-The Monetary Policy Committee (MPC) will be meeting next week (21st and 22nd March 2016) – for the 2nd time in the year – since its last meeting in January 2016 to review developments in the domestic and global fronts as well as take key policy decisions. This meeting is coming against the backdrop of renewed optimism in the global economy, albeit tepid; sustained sub-optimal domestic economic performance and…

Nigeria’s Monetary Policy Committe High Stakes, Tough Choices …

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa — The Nigerian Monetary Policy Committee (MPC) will be sitting for its 6th and last session for the year from 23rd and 24th of November 2015. The meeting is coming against the backdrop of concerns surrounding FX rate amid calls for further devaluation of the local unit, slow GDP growth, unrelenting inflationary pressure, robust liquidity levels in the financial system as well as the increasing expectation for a FED rate…

Nigerian MPC At a Crossroad; Between Domestic Stability and External Balance

Posted on by The Editorial Team

Lagos, Nigeria, Capital Markets in Africa — The Nigerian Monetary Policy Committee (MPC) will be sitting for its 5th session this year between 21st and 22nd September 2015 to review developments in the global and domestic economy, together with the financial market since its last meeting (23rd and 24th July 2015). It is expected that deliberation at the meeting will center on the slowing domestic growth, persistent exchange rate uncertainty, increasing risk perception in the local…

Nigeria’s central bank adjusts FX rate to 196.95 per dollar

Posted on by The Editorial Team

Lagos (Capital Markets in Africa): – Nigeria’s central bank adjusted its exchange rate peg to 196.95 naira to the dollar from the 197 it set in February after the currency’s value was eroded by the fall in oil prices, data on its website showed on Thursday. The bank adjusted the rate at which it sold hard currency this week, dealers said, noting that the change was too small to be considered a revaluation for the naira,…

Nigerian MPC to Retain Status Quo for Later Devaluation?

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa):- In light of the recent happenings in the monetary and fiscal policy space, the Monetary Policy Committee (“MPC”or “The Committee”) will be sitting on the 18th and 19th May, 2015 for its third meeting in the year to discuss and take critical policy decisions relating to the economy. In the plethora of issues to be considered, the recent pressure on exchange rate, declining external reserves, rising price level and…

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