Culled—-Proshare March 27, 2019 By Bismarck Rewane of FDC The MPC made a surprise move in cutting the policy rate at yesterday’s meeting from 14% p.a to 13.5% p.a. It said it was a signal of a shift towards a more accommodative stance. The Justification for the move was the […]
OPINION/EDITORIAL
Monetary Policy: MPC Springs A Dovish Surprise
Culled—Proshare March 27, 2019/ARM Research MPC Springs A Dovish Surprise The CBN Monetary Policy Committee (MPC) voted to cut the key benchmark interest rate by 50bps to 13.5%, taking the Standing Lending Facility and standing deposit facility to 15.5% and 8.5% respectively. The decision was surprising in that ARM Research […]
MPC’s Rate Cut: An Unexpected Change in Policy Direction
March 27, 2019/InvestmentOne Update · In contrast to our expectation, the benchmark interest rate was reduced by 50bps to 13.50% (first reduction since November 2015) while other monetary parameters were held unchanged as follows: ü Cash Reserve Ratio at 22.50% ü Liquidity ratio at 30% ü Asymmetric corridor of +200/-500 […]
