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Central bank pegs remunerable bank deposits at N2 billion

The Central Bank of Nigeria has pegged bank deposit placement through its Standing Deposit Facility (SDF) at N2billion, saying that any amount in excess of that will not attract interest payment.

Central bank intensifies pressure on banks to lend to the economy

In a bid to further stimulate lending to the economy, the Central Bank of Nigeria, CBN, yesterday, said bank deposit placement through its Standing Deposit Facility, SDF, in excess of N2 billion will not attract interest payment.

Central bank chief pledges to bring inflation to single digit within five years

The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, says he will bring inflation to single digit within the next five years.
Central Bank of Nigeria - CBN

Central bank to limit banks’ appetite for govt securities

The Central Bank of Nigeria, CBN, yesterday, said it would soon announce measures to limit the excessive appetite of banks for government securities.
Indian central bank cuts rates to boost growth

India central bank cuts rates to spur growth

India’s central bank cut its policy interest rate by 25 basis points on Thursday in a widely expected move to boost the economy just a week before voting begins in an election that will decide whether Prime Minister Narendra Modi gets a second term or not.

Expert urges central bank to reduce CRR to make reduction of MPR meaningful

Mr Wale Adegbite, a former Chairman, Manufacturers Association of Nigeria, Ogun Chapter, has urged the CBN to also reduce the Cash Reserve Ratio (CRR) to make the reduction of the Monetary Policy Rate (MPR) meaningful

Analysts: Interest rate cut threatens foreign portfolio investments

Analysts have said the reduction of the Monetary Policy Rate, also known as benchmark interest rate, may dampen foreign investors in the nation’s stock market.

Experts commend central bank for cutting lending rate to 13.5 percent

Two financial experts, Dr Samuel Nzekwe and Dr Titus Okurounmu, on Wednesday commended the Federal Government for reducing the benchmark lending rate from 14 per cent to 13.5 per cent.

Bureaux de Change operators back central bank’s policies

The Association of Bureaux De Change Operators of Nigeria (ABCON) has expressed its support for the Central Bank of Nigeria’s (CBN) monetary policy and intervention in critical sectors in the economy.
Reserve Bank of India

India central bank cuts interest rates to boost economy

India’s central bank on Thursday unexpectedly lowered interest rates and, as anticipated, shifted its stance to “neutral” from “calibrated tightening” to boost a slowing economy after a sharp fall in the inflation rate.

Pat Utomi: Likely monetary policy rates retention in future reasonable

An economist, Prof. Pat Utomi, has said the likely retention of the Monetary Policy Rates for a while at 14 per cent was reasonable due to non-availability of pressure on the economy.

Godwin Emefiele: Central bank to increase list of import restricted items

The Governor of the Central Bank of Nigeria, (CBN) Mr Godwin Emefiele on Tuesday disclosed that the bank would increase the number of items placed on import restrictions from 42 to 50.

Godwin Emefiele: Atiku Abubakar’s monetary policy agenda disastrous

Central Bank of Nigeria (CBN) Governor Godwin Emefiele has warned that the Peoples Democratic Party (PDP) presidential candidate’s suggestion that the exchange rate should be free float is a recipe for disaster.
Nigeria's Budget Minister Udoma Udo Udoma speaks during the public presentation and breakdown of 2018 Appropriation Act in Abuja, Nigeria.

Minister: We are taking steps to grow the economy

The Minister of Budget and Planning, Senator Udo Udoma, has assured that the federal government is putting in place measures necessary to ensure that the economy grows rapidly, while maintaining fiscal sustainability.

Analysts predict spike in December inflation rate

As the National Bureau of Statistics (NBS) releases its December 2018 inflation figures this week, leading research firms in the country, FSDH Research and Financial Derivatives Company (FDC), said in their forecasts at the weekend that the nation’s inflation rate for December 2018 would increase.

Foreign portfolio investments brop by N94 billion in Q3

Foreign Portfolio Investors (FPI) withdrew more than N94.4 billion between July and September 2018 from the Nigerian Stock Exchange (NSE), it was learnt.

Central bank: Proposed increase in minimum wage will stimulate growth

The Central Bank of Nigeria (CBN) on Thursday said the proposed increase in minimum wage for Nigerian workers would stimulate output growth in the economy.

Central bank reschedules MPC meeting to accommodate Eid-El Maulud

The Central Bank of Nigeria (CBN) on Saturday rescheduled the Nov. 19 meeting of the Monetary Policy Committee (MPC) to Nov. 21 and 22 due to accommodate the Eid-El Maulud celebrations.

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