Author: Marketforces Africa

MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

Firm Explains Impacts of Interest Rate Hike in the Market

MarketNews

Firm Explains Impacts of Interest Rate Hike in the Market The Central Bank of Nigeria’s (CBN) monetary policy committee hiked the rate by 4% to 22.75% is expected to have impacts across the financial markets. A slew of analysts think the increase could be an overkill to the economy struggling to survive. The rate tightening was anchored on heightened inflationary pressures, the exchange rate volatility and the expectation of future hikes in inflation. In its response, advisory and wealth management investment firm Cedrus Group explained that monetary policy would reshape the direction of the financial market in the coming months.…

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Yield on Nigerian TBills Slides to 16.05% -MarketNews

Financial Market

Yield on Nigerian TBills Slides to 16.05% -MarketNews The average yield on Nigerian Treasury bills declined marginally as the market reacted to an interest rate hike by the Central Bank of Nigeria (CBN). The decision to increase the benchmark interest rate provoked buying interest in the secondary despite tightened liquidity levels. Consequently, the overnight lending rate expanded by 246 basis points to 26.7%, in the absence of any significant inflows into the system. Banks were noted to be scrambling for a liquidity boost, the same development witnessed last week in the market. Meanwhile, analysts are predicting that yield will remain…

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