interestrates

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.