CBN makes first forex intervention in 2020 with $253m
The Central Bank of Nigeria (CBN), at the weekend, made its first foreign exchange (forex) intervention for the year, with $253.38 million, under the retail Secondary Market Intervention Sales (SMIS)
The spirit of a dying year
There is a sense in which we believe that an outgoing year actually dies. It ends. It quits the stage and goes into oblivion.
In 2020, tight monetary policy retains top spot
The hawkish stance of the Central Bank of Nigeria (CBN) over the years will crossover to 2020 and still retain it grip on the financial market.
Border Closure: Nigeria suffers highest inflation rate since May 2018
The closure of some of the Nigerian borders has led to the increase in food prices and subsequently pushed up annual inflation in the country. The National Bureau of Statistics monthly report released on Monday showed that annual inflation was 11.61% in October, up from 11.24% in September, indicating the highest rate since May 2018.…
Inflation drops by 0.06% in August- NBS
The National Bureau of Statistics (NBS), says inflation rate in August 2019 reduced by 0.06 per cent to 11.02 per cent from 11.08 per cent recorded in July. It said this in the “Consumer Price Index (CPI), August 2019” report it released on Tuesday in Abuja. The report, however, said that inflation increased by 11.02…
Zimbabwe inflation rate soars to 175%
Zimbabwe's annual inflation rate hit 175 percent in June, official data showed Monday, stoking fears of a return of the hyperinflation that wiped out savings ten years ago when the economy collapsed.
Nigeria’s inflation drops by 0.06 % in March – NBS
The National Bureau of Statistics (NBS) said the country’s inflation measured by Consumer Price Index (CPI) in March was 0.06 per cent points lower than the rate recorded in February.
Democracy, rising inflation and weaker economy
Over the past years, the country has witnessed varying degrees of weaknesses in the two variables, which have impacted negatively on the economic wellbeing of most Nigerians. The fear that these major financial and economic indicators may get worse in the years ahead and thus, erode further their already poor living standards, keeps a majority…
LCCI tasks FG on moderating inflation, National Assembly on budget passage
Citing the expected impact the upward review of minimum wage and election-related experience may have on inflation rate, the Lagos Chamber of Commerce and Industry (LCCI) has emphasised the need for the Federal Government to enhance non-oil sector productivity to increase output and moderate inflation. Similarly, the chamber urged the National Assembly to consider and…
China's factory gate inflation eases
China's factory inflation slowed in November, a sign demand remains weak amid Beijing's ongoing trade war with the United States, while consumer inflation also flagged, official data showed Sunday. The producer price index -- an important barometer of the industrial sector that measures the cost of goods at the factory gate -- climbed 2.7% on-year…