March 26, 2024/Coronation Research Twelve (12) members of the committee were in attendance. DECISION ▪ MPC hiked by +200bps to 24.75% ▪ Asymmetric corridor of the MPR adjusted to +100 / -300 bps ▪ CRR for commercial banks retained at 45%. ▪ CRR for merchant banks raised to 14% from 10% […]
OPINION/EDITORIAL
March 2024 MPC Raises the MPR by 200bps to 24.75%
March 26, 2024/Cordros Report In line with our expectations, the Monetary Policy Committee (MPC) again voted to raise the Monetary Policy Rate (MPR) by 200bps to 24.75% in March. We highlight that the committee’s decision to hike the MPR further was hinged on (1) the existing inflationary pressures, (2) the […]
Bullish Sentiment Brings $90 Oil Within Reach
March 26, 2024/Oilprice.com Tom Kool Editor, Oilprice.com In what feels like an increasingly bullish oil market, $90 Brent is now a real possibility. While demand uncertainty persists, geopolitical risk, a weakening U.S. dollar, and OPEC+ supply cuts have moved prices higher. – Long positions held by hedge funds and other […]
