Browsing: Central Bank of Nigeria
CRR hike Fuels Bearish Sentiments as Average Yield Inches to 3.7%. Afrinvest, a leading investment banking firm, stated that the recent hike in cash reserve ratio fueled bearish sentiment experienced in the secondary market as average yield spikes to 3.7%.
Analysts, Fitch say Move to Basel III Positive for Banking System Stability. Analysts, Fitch rating have said that move to the third Basel Accord will be positive for banking system stability.
Foreign investors’ shy away from CBN’s OMO auction. In the money market last week, exit of foreign investors impacted the Central Bank of Nigeria’s (CBN) www.cbn.gov.ng open market operation (OMO) as subscription was significantly under sold.
Analysts say Moody’s Negative Outlook Reflects Weak Macroeconomic Fundamentals. Afrinvest, a leading independent investment banking firm, said that Moody’s, an international rating agency, negative outlook reflects the nation’s current realities. The firm however said that fiscal ratio could worsen in 2019.
The Monetary Policy Committee of the Central Bank of Nigeria (www.cbn.gov.ng) has hold key rates, as leadership of the apex bank wants border to remain close.
Capital import declines as investors engrave in low beat sentiment. The amount of capital injected into the economy in the third quarter of 2019 stood at $5.36 billion, the National Bureau of Statistics (www.nigeriastats.gov.ng) said.
The nation’s gross external reserve now is less than 50% of total debt portfolio. The mathematics of the nation’s economic position is becoming worrisome.
Basel III: We are considering issuing guideline on liquidity standard -CBN. The Central Bank of Nigeria has said that it is considering issuing guideline on Basel III liquidity standard. The CBN said this in reaction to MarketForces enquiry about the implementation of the Basel III accord by deposit
• GTB, Access out, Ecobank Nigeria, FBN to exit at call dates
• No subordinated-bonds outstanding by August 14th
• Tellimer observed reason for primary market resurgence in 2020
Fiscal, Monetary authorities converging policy to reduce debt cost