Latest figures from the Central Bank of Nigeria have shown that foreign exchange reserves jumped to $42.02bn by October 17, the highest in 32 months and an increase of 3.11 per cent, month-on-month. Figures on the CBN website showed that the reserves, which stood at $40.75bn a month ago, were […]
Tag: Bismark Rewane
FDC Predicts Interest Rate Slash to 11.75%
With exactly one week to the next monetary policy committee (MPC) meeting, Financial Derivatives Company Limited (FDC) has predicted a 25 basis points reduction in the Monetary Policy Rate (MPR) to 11.75 per cent from 12 per cent. MPR, the benchmark interest rate is the rate at which the Central […]
MPC decision: Borrowing cost to rise by 5%
Following the decision of the Monetary Policy Committee to increase the cash reserve requirement, financial analysts have said that borrowing cost will shoot up by a maximum of five per cent. The Managing Director, Financial Derivatives Company Limited, Mr. Bismark Rewane, said in a report made available to our correspondent […]
