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 […]
OPINION/EDITORIAL
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 […]
Food Prices Still on the Rise
November 2, 2023/CSL Research Food prices in Nigeria have been rising sharply in recent years. According to the National Bureau of Statistics (NBS) Selected Food Price Watch for September 2023, animal proteins such as beef, chicken, and fish saw the highest price increases so far. This is due to a […]
