OPINION/EDITORIAL

Rates Down, Oil Prices Slack

Posted by InvestAdvocate on

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22/7/2019/Coronation Research

As we explained last week, the Central Bank of Nigeria (CBN) is taking numerous measures to encourage banks to lend. In the short term these result in high liquidity in the money markets and depress money market rates. It works while there is confidence in the exchange rate, but the CBN will want to keep an eye on oil prices to see how it can sustain its current pro-growth phase – one day rates may have to rise.

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