LATEST UPDATES

Reports | Monetary Policy

November 2022 Post-MPC Slides: CBN – Shooting for the Moon

Nov 24, 2022   •   by   •   Source: FDC Ltd   •   eye-icon 62 views

The popular saying "shoot for the moon; even if you miss, you'll be one of the stars." 


The monetary policy committee closed the curtains for the year with an additional 100bps increase to its anchor rate (16.5%pa). This is the fourth consecutive rate hike in six meetings. Overall, the MPC has increased rates by 500bps. 

 

Monetary policy tightening is not Nigeria-specific, it is a global phenomenon. The world has moved from the era of near-zero interest rates and quantitative easing to aggressive rate hikes not seen since the financial crisis of 2008. The US Fed has increased rates by a total of 375bps, the BoE 275bps, and the Bank of Ghana, a whooping 1000bps. Clearly, Nigeria’s position is consistent with the global trend. 

Related items.

Reports | Monetary Policy

CBN Hikes Rate - FDC

Friday, September 30th at 10:44 AM

Get the App

apple-store  play-store

Connect with us


Proshare is a professional practice focused on delivering research and information services to bridge the gap between investors and markets; by delivery on credible, reliable, and timely engagements through the following areas — Impact Research, Market Intelligence, Strategic Advisory, Stakeholder Relations & Digital Media.