• About Us
  • Terms & Conditions
  • Contact Us
Sunday, September 24, 2023
Investogist
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Rwanda: Paul Kagame announces he will run for a fourth term

    Rwanda: Paul Kagame announces he will run for a fourth term

    Breaking: Tribunal Sacks Kano State Governor Abba Kabir of NNPP

    Breaking: Tribunal Sacks Kano State Governor Abba Kabir of NNPP

    Rivers State Police Command arrests Police Officers involved in alleged extortion and kidnapping

    Rivers State Police Command arrests Police Officers involved in alleged extortion and kidnapping

    Mass shootings in USA surpass 500 this year – Report

    Mass shootings in USA surpass 500 this year – Report

    Hakeem Baba-Ahmed to serve as Special Adviser to VP Kashim Shettima

    Hakeem Baba-Ahmed to serve as Special Adviser to VP Kashim Shettima

    Nine Appeal Court Justices to be sworn in Chief Justice of Nigeria

    Nine Appeal Court Justices to be sworn in Chief Justice of Nigeria

    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    President Tinubu Nominates New CBN Governor and Management Team

    Zelensky’s virtual speeches to Parliaments around the world invoking history

    We will not hand over male refugees for military draft, EU States tell President Zelensky

    FG issues Flood Alert: 13 States, 50 Communities to be affected

    FG issues Flood Alert: 13 States, 50 Communities to be affected

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Headline Inflation in Nigeria rose to 22.04% in March

    Food prices continue to soar in Nigeria as inflation hits 25.80%

    NERC hikes electricity meter price by 40%

    NERC hikes electricity meter price by 40%

    NNPC says no plan to increase petrol price in March

    Nigeria’s daily petrol consumption dropped by 16.8% in July – report

    Student Loan Act: How to apply for the loan, all you need to know

    Tinubu establishes presidential CNG initiative, targets nationwide adoption

    Subsidy Palliative: FG gives states N5bn to buy rice, maize

    Subsidy Palliative: FG gives states N5bn to buy rice, maize

    FG to streamline taxes from 52 to 10, rename FIRS

    FG to streamline taxes from 52 to 10, rename FIRS

    Student Loan Act: How to apply for the loan, all you need to know

    FG establishes ‘Infrastructure Support Fund (ISF) for the 36 States of the Federation’

    Headline Inflation in Nigeria rose to 22.04% in March

    Inflation in Nigeria rises to 22.79% in June 2023

    CBN extends Naira 4 Dollar Scheme for diaspora remittances until further notice

    CBN includes Naira as payout option for diaspora remittance

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    NGX Daily Equities Market Report: Market gains for third consecutive days

    Nigerian Exchange: Stock Market report for week ended 22 September 2023

    NGX Daily Equities Market Report: Market gains for third consecutive days

    Nigerian Exchange: Stock Market report for week ended 15 September 2023

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    NGX Daily Equities Market Report: Market gains for third consecutive days

    Nigerian Exchange: Stock Market report for week ended 8 September 2023

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 0.07% as VITAFOAM loses 10%

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    The NGX- ASI gained by 1.11% as Dangote Sugar rises another 10%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 0.08% as TRANSCORP falls 9.99%

    TRANSCORP reports 528.45% rise in profit for 2021 FY

    The NGX- ASI gained by 0.51% as TRANSCORP rises above N7

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI gained by 0.90% as Dangote Sugar rises above N50

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Court sanctions transfer of Access Bank Plc Shares to Holding Company

    Access Holdings Plc declares 30 kobo interim dividend for H1 2023

    Dr. Cardoso assumes duty as CBN acting Governor

    Dr. Cardoso assumes duty as CBN acting Governor

    AIICO Board of Directors approve Dividend Payment and  2021 Financial Statements

    Ellah Lakes Plc gets SEC approval to raise ₦2.9bn new capital via rights issue

    Kyari claims OVH acquisition grew NNPC Retail’s Q1 2023 profit to N18.4bn

    Kyari claims OVH acquisition grew NNPC Retail’s Q1 2023 profit to N18.4bn

    Fidelity Bank to issue 3.03 billion Ordinary Shares by way of Private Placement

    Fidelity Bank Plc completes acquisition of Union Bank Plc UK

    Zenith Bank posts N174bn profit, earns N28.14bn from Account Maintenance in 9 Months

    Zenith Bank Plc reports N291.73bn profit for Half-Year 2023

    Board of Directors UBA approve payment of a final dividend for 2022

    UBA Plc to pay 50 Kobo Interim Dividend for Half-Year 2023

    Dividend Stocks to watch on the Nigerian Exchange – The case for Zenith Bank Plc

    Zenith Bank Plc to pay 50 Kobo Interim Dividend for Half-Year 2023

    PZ Cussons UK to buyout minority shareholders of PZ Cussons Nigeria plc

    PZ Nigeria announces reason for delay in filing Audited Financial Statements

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Rwanda: Paul Kagame announces he will run for a fourth term

    Rwanda: Paul Kagame announces he will run for a fourth term

    Breaking: Tribunal Sacks Kano State Governor Abba Kabir of NNPP

    Breaking: Tribunal Sacks Kano State Governor Abba Kabir of NNPP

    Rivers State Police Command arrests Police Officers involved in alleged extortion and kidnapping

    Rivers State Police Command arrests Police Officers involved in alleged extortion and kidnapping

    Mass shootings in USA surpass 500 this year – Report

    Mass shootings in USA surpass 500 this year – Report

    Hakeem Baba-Ahmed to serve as Special Adviser to VP Kashim Shettima

    Hakeem Baba-Ahmed to serve as Special Adviser to VP Kashim Shettima

    Nine Appeal Court Justices to be sworn in Chief Justice of Nigeria

    Nine Appeal Court Justices to be sworn in Chief Justice of Nigeria

    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    President Tinubu Nominates New CBN Governor and Management Team

    Zelensky’s virtual speeches to Parliaments around the world invoking history

    We will not hand over male refugees for military draft, EU States tell President Zelensky

    FG issues Flood Alert: 13 States, 50 Communities to be affected

    FG issues Flood Alert: 13 States, 50 Communities to be affected

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Headline Inflation in Nigeria rose to 22.04% in March

    Food prices continue to soar in Nigeria as inflation hits 25.80%

    NERC hikes electricity meter price by 40%

    NERC hikes electricity meter price by 40%

    NNPC says no plan to increase petrol price in March

    Nigeria’s daily petrol consumption dropped by 16.8% in July – report

    Student Loan Act: How to apply for the loan, all you need to know

    Tinubu establishes presidential CNG initiative, targets nationwide adoption

    Subsidy Palliative: FG gives states N5bn to buy rice, maize

    Subsidy Palliative: FG gives states N5bn to buy rice, maize

    FG to streamline taxes from 52 to 10, rename FIRS

    FG to streamline taxes from 52 to 10, rename FIRS

    Student Loan Act: How to apply for the loan, all you need to know

    FG establishes ‘Infrastructure Support Fund (ISF) for the 36 States of the Federation’

    Headline Inflation in Nigeria rose to 22.04% in March

    Inflation in Nigeria rises to 22.79% in June 2023

    CBN extends Naira 4 Dollar Scheme for diaspora remittances until further notice

    CBN includes Naira as payout option for diaspora remittance

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    NGX Daily Equities Market Report: Market gains for third consecutive days

    Nigerian Exchange: Stock Market report for week ended 22 September 2023

    NGX Daily Equities Market Report: Market gains for third consecutive days

    Nigerian Exchange: Stock Market report for week ended 15 September 2023

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    NGX Daily Equities Market Report: Market gains for third consecutive days

    Nigerian Exchange: Stock Market report for week ended 8 September 2023

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 0.07% as VITAFOAM loses 10%

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    The NGX- ASI gained by 1.11% as Dangote Sugar rises another 10%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 0.08% as TRANSCORP falls 9.99%

    TRANSCORP reports 528.45% rise in profit for 2021 FY

    The NGX- ASI gained by 0.51% as TRANSCORP rises above N7

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI gained by 0.90% as Dangote Sugar rises above N50

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Court sanctions transfer of Access Bank Plc Shares to Holding Company

    Access Holdings Plc declares 30 kobo interim dividend for H1 2023

    Dr. Cardoso assumes duty as CBN acting Governor

    Dr. Cardoso assumes duty as CBN acting Governor

    AIICO Board of Directors approve Dividend Payment and  2021 Financial Statements

    Ellah Lakes Plc gets SEC approval to raise ₦2.9bn new capital via rights issue

    Kyari claims OVH acquisition grew NNPC Retail’s Q1 2023 profit to N18.4bn

    Kyari claims OVH acquisition grew NNPC Retail’s Q1 2023 profit to N18.4bn

    Fidelity Bank to issue 3.03 billion Ordinary Shares by way of Private Placement

    Fidelity Bank Plc completes acquisition of Union Bank Plc UK

    Zenith Bank posts N174bn profit, earns N28.14bn from Account Maintenance in 9 Months

    Zenith Bank Plc reports N291.73bn profit for Half-Year 2023

    Board of Directors UBA approve payment of a final dividend for 2022

    UBA Plc to pay 50 Kobo Interim Dividend for Half-Year 2023

    Dividend Stocks to watch on the Nigerian Exchange – The case for Zenith Bank Plc

    Zenith Bank Plc to pay 50 Kobo Interim Dividend for Half-Year 2023

    PZ Cussons UK to buyout minority shareholders of PZ Cussons Nigeria plc

    PZ Nigeria announces reason for delay in filing Audited Financial Statements

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home Economy

Domestic Economy: MPC to Leave Benchmark Rate Unchanged…Amid Rising Threats

Weekly Market Review

Saturday, 23 January 2021, 5:00 pm
in Economy, Policies
0
Domestic Economy: MPC to Leave Benchmark Rate Unchanged…Amid Rising Threats
Share Share Share Share Send as Email

(Greenwich Merchant Bank): The MPC is set to hold its first meeting this year on the 25th and 26th of January 2020. At this meeting, the Committee will assess its existing policies in line with the recent developments in the international space and their implications on the domestic economy.

Our analysis posits that the key parameters would be left unchanged; MPR at 11.50%, Asymmetric corridor at +100/-700bps around the MPR, Cash Reserve ratio (CRR) at 27.50%, and Liquidity Ratio at 30%.

On the global scene, we expect the rollouts of COVID-19 vaccinations will top other emerging developments, bearing in mind its impact on global growth. Already, the IMF and the World Bank are projecting growth should edge up to 3.4% and 4.0% in 2021.

This alongside the achieved stability in the oil market, pandemic-related risks, the just concluded U.S elections, the slew of positive data in emerging markets, particularly from China, should weigh on the Committee’s decisions.

Read: Global Economy: Growth Roars Back in China, Amid a Slowdown in Consumption

On the domestic front, the Committee would consider several factors such as the heightened level of inflationary pressures, the insecurity challenges, surging Covid-19 cases accompanied by movement restrictions, persistent FX strains, the downbeat PMI data, amongst others. Ultimately, we envisage the committee would strike a balance between stimulating growth and putting inflationary pressures under control.

At the last MPC meeting, the Committee weighed strongly its options of either hiking, or maintaining status quo. In view of spiralling inflation, the Committee felt the appropriate decision would be to tighten its current position, as this should stem inflationary pressures, but at the detriment of stimulating credit growth, particularly to the real sector.

That said, its decision to hold its position came on the heels of the positive results of the Apex Bank’s heterodox policies, which should strengthen the macro-economic environment, and boost productivity across all sectors. In addition, we believe the Committee would further urge the government to diversify its revenue base in face of oil revenue volatility, and lingering effects of the coronavirus pandemic.

Furthermore, the passage of the 2021 budget of NGN13.6trn, if implemented with vigour should enhance growth in the economy, especially due to increased capital spending, that takes c. 30% of the expenditure plan.

In our view, a tightening stance may appear more appropriate to curb inflationary pressures, ensure capital flights are under control, reduce external liquidity shocks, and even attract foreign investors.  Still, high inflationary pressures, weak aggregate demand, shrinking job numbers, rising debt levels, and uncertainties clouding the FX environment continues to threaten the strength of the macroeconomic space.

Our premise for a rate hold is based on two factors. Firstly, the burgeoning need to stimulate economic activities and create jobs, in a bid to boost a quicker economic rebound. Secondly, the Federal Government’s need to foster a closer co-ordination of monetary and fiscal policies to accelerate growth in the country.

Thereby, we expect the MPC would retain its current monetary policy stance. We opine that it might take a while for growth to return to its pre-pandemic levels, as domestic demand is set to remain weak. However, a low base effect and an anticipated pick-up in the non-oil sector underpins growth in the positive territory.

Related Posts:

  • BREAKING: CBN raises interest rate to 18.5% amid rising inflation
    BREAKING: CBN raises interest rate to 18.5% amid rising…
  • Domestic Economy: A Glimmer of Hope…as Surprise Growth in GDP Stimulates Economy out of Recession
    Domestic Economy: A Glimmer of Hope…as Surprise Growth in…
  • Domestic Economy: GDP Report Shows Household-focused Government Policies to Springboard Economy
    Domestic Economy: GDP Report Shows Household-focused…
  • BREAKING: U.S Speaker Pelosi departs Taiwan amid Chinese threats, military drills
    BREAKING: U.S Speaker Pelosi departs Taiwan amid Chinese…
Previous Post

Global Economy: Growth Roars Back in China, Amid a Slowdown in Consumption

Next Post

Fixed Income Market: A Market in Search of a Path

Next Post
Fixed Income Market: Tide Remains Bleak in the Fixed Income Market

Fixed Income Market: A Market in Search of a Path

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2023, qualification and payment dates

Court sanctions transfer of Access Bank Plc Shares to Holding Company

Access Holdings Plc declares 30 kobo interim dividend for H1 2023

NGX Daily Equities Market Report: Market gains for third consecutive days

Nigerian Exchange: Stock Market report for week ended 22 September 2023

Custodian Investments Plc announces 10 kobo interim dividend for H1 2022

List of Dividends announced in 2022, qualification and payment dates

How to become a distributor of Dangote Cement

How to become a distributor of Dangote Cement

Court sanctions transfer of Access Bank Plc Shares to Holding Company

Access Holdings Plc declares 30 kobo interim dividend for H1 2023

NGX Daily Equities Market Report: Market gains for third consecutive days

Nigerian Exchange: Stock Market report for week ended 22 September 2023

Dr. Cardoso assumes duty as CBN acting Governor

Dr. Cardoso assumes duty as CBN acting Governor

AIICO Board of Directors approve Dividend Payment and  2021 Financial Statements

Ellah Lakes Plc gets SEC approval to raise ₦2.9bn new capital via rights issue

Investogist
info@investogist.com

Follow us

Categories

  • Africa
  • Agriculture
  • Arts & Culture
  • Budgets
  • Business
  • Columnists
  • Commodities
  • Companies
  • Cryptocurrencies
  • Economic Data
  • Economy
  • Editorials
  • Financial Education
  • Football
  • Forex
  • Industry
  • Investogist Business Saturday
  • Job Opportunities
  • Markets
  • Nature
  • News
  • Nigeria
  • Op-ed
  • Opinion & Analysis
  • Places & People
  • Policies
  • Rates & Bonds
  • Sports
  • Stocks/Equities
  • Technology
  • Travel & Tours
  • Vacancies
  • World

Quick Links

  • News
  • Economy
  • Markets
  • Business
  • Opinion & Analysis
  • Travel & Tours

Newsletter

Copyright © 2023 investogist.com, All Rights Reserved

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies

Copyright © 2023 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist