interestrates

Stock Market Sees Marginal Growth Amid Interest Rate Hike Speculations The Nigerian stock market experienced a modest gain of 0.1% last week, adding ₦77 billion to the total value of listed equities as investors braced for a potential interest rate hike by the Central Bank of Nigeria (CBN)...

19 Nigerian Banks Adjust Savings Rates to 8.18% Following MPR Hike In a recent adjustment triggered by the Central Bank of Nigeria’s (CBN) monetary policy, 19 deposit money banks have raised their savings interest rates to 8.18%. This move aligns with the CBN’s directive to implement a minimum...

Treasurers Urge Nigerian Government to Tackle Inflation with Non-Interest Rate Solutions Key Highlights: 1. Call for Non-Interest Alternatives The Association of Corporate Treasurers of Nigeria (ACTN) has advised the Federal Government to explore strategies beyond interest rate hikes to...

Nigerian Banks See Record Profits in High-Interest Environment, Reporting N4.2 Trillion Surge in Earnings Summary of the Article: Ten Nigerian Deposit Money Banks have reported a dramatic increase in profit, collectively earning N4.2 trillion in the first nine months of 2024, reflecting a...

INTEREST RATE HIKE AND NAIRA STABILITY The Central Bank of Nigeria (CBN) raised the monetary policy rate (MPR) by 50 basis points (bps) to 27.25% and the cash reserve ratio (CRR) by 200 bps to tackle inflation and stabilize the naira. This move is aimed at curbing inflationary pressures...

MPC MAY LOWER INTEREST RATES AMID FALLING INFLATION Analysts anticipate that the Central Bank of Nigeria's (CBN) Monetary Policy Committee (MPC) may reduce the benchmark interest rate as they meet to deliberate on the country's financial conditions. The two-day meeting, which begins today...

FUEL PRICE HIKES CREATE POLICY DILEMMA FOR CENTRAL BANK'S MPC AMID INFLATION CONCERNS The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) faces a challenging decision as the recent hikes in petrol prices complicate potential monetary policy adjustments. Analysts had expected...

SURVEY ON CBN RATE CUT EXPECTATIONS Overview: - Survey: A survey conducted by the Statistics Department of the Central Bank of Nigeria (CBN) gathered respondents' views on whether the interest rate should have been adjusted in July. Survey Results: - Majority's Opinion: About 74.2% of...

INFLATION, HIGH INTEREST DANGEROUS TO ECONOMIC GROWTH – ANALYSTS Main Points: 1. Economic Concerns: Analysts have warned that persistent inflation, high interest rates, and unemployment are undermining the benefits of Nigeria's GDP growth, which increased to 3.19% in Q2 2024 from 2.51% in Q2...

BREAKING: The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate (MPR), which measures interest rates by 50 basis points, from 26.25% to 26.75% amid soaring inflation and skyrocketing food prices.