November 2, 2023/Bank of England Monetary Policy Summary, November 2023 The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 1 November 2023, the MPC voted by […]
Money Market
Deposit Money Banks’ Credit Growth Boosted by FX Devaluation
November 2, 2023/FBNQuest Research According to the CBN’s most recent Quarterly Statistical Bulletin (QSB) for Q2 ’23, deposit money banks (DMB) total credit lending to the economy rose sharply by 24% q/q (+40% y/y) to NGN37.5trn in Jun ’23. This compares with a slight contraction of -1% q/q in the […]
Demand for Cross-Border Payments Projected to Accelerate over Next 12 Months
November 1, 2023/Mastercard Mastercard’s new borderless payments report reveals consumers globally are setting up side hustles and considering working or living abroad, prompting the acceleration of cross-border payments Small businesses are also increasingly reliant on international payment networks with three in five sourcing more suppliers internationally than they were 12 […]
