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  • Reason for retaining MPR is …. Emefiele

    July 25, 2017 6:39 PM 16

    Mr Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN), says easing the Monetary Policy Rate (MPR) will pull real lending rates to a negative territory. Emefiele said this while addressing newsmen on Tuesday in Abuja on the outcome of the Monetary Policy Committee (MPC) Meeting. He said that any reduction in MPR would be a disincentive to investments

  • MPC retains interest rate at 14 per cent- Emefiele

    July 25, 2017 5:04 PM 22

    The Monetary Policy Committee (MPC) has again retained the Monetary Policy Rate (MPR) at 14 per cent due to uncertainties in the global market. Mr Godwin Emefiele, Governor, Central Bank of Nigeria (CBN), said this while briefing newsmen on the outcome of the 257th meeting of the MPC on Tuesday in Abuja. He said the MPR was not eased at this time because

  • Nigeria’s 257th MPC Meeting: Key Economic Indicators And Global Concerns

    July 25, 2017 12:09 PM 19

    The Monetary Policy Committee of the Central Bank of Nigeria will today from 2pm take key decisions on the Monetary Policy Rate (MPR), Liquidity Ratio (LR), Cash Reserve Ratio (CRR), Asymmetrical corridor and also assess the foreign exchange policy impact on the Nigerian market and economy. Already some of the economists, financial market research

  • Naira Depreciates To N367/$1 As MPC Meeting Continues Today

    July 25, 2017 3:06 AM 21

    The naira falls yesterday to N367 against the Dollar on the parallel market from N376 it opened for trading as the Central Bank of Nigeria (CBN) Monetary Policy Meeting commences today (Tuesday). The sell side of the naira exchange rate against the pound also dropped by N3.00, to close at N475 to the pound on the parallel market yesterday, as against

  • Naira depreciates as CBN injects $195m

    July 24, 2017 10:27 PM 14

    Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor, confirmed the intervention in a statement issued yesterday. He said that the CBN offered $100 million as wholesale interventions and allocated $50 million to the Small and Medium Enterprises (SMEs) forex window, while the invisibles segment comprising Business/Personal Travel

  • Oil prices advance as Saudis pledge to cut exports; Nigeria agrees to output cap

    July 24, 2017 3:18 PM 16

    Saudis agreed to limit its exports at 6.6 million barrels a day Oil rose Monday, as news that Saudi Arabia has pledged to lower crude exports and Nigeria plans to limit its production sent prices higher for the first time in three sessions. September West Texas Intermediate crude CLU7, +1.38% rose by 42 cents, or 0.9%, to $46.19 a barrel on the New York Mercantile

  • Expect Crude oil to trade sideways: Sushil Finance

    July 24, 2017 1:17 PM 19

    According to Sushil Finance, expect crude oil prices to trade sideways on the back of short covering after drop in prices. Oil prices slid on Friday, settling about 2.5 percent lower after a consultancy forecast a rise in OPEC production for July despite the group's pledge to curb output, reigniting concerns the global market will stay awash with crude

  • OPEC moves to cap Nigerian oil output, boost compliance

    July 24, 2017 12:22 PM 12

    ST PETERSBURG, Russia (Reuters) - OPEC moved on Monday to cap Nigerian oil output and called on several members to boost compliance with production cuts to help clear excessive global stocks and support flagging prices. OPEC has agreed with several non-OPEC producers led by Russia to cut oil output by a combined 1.8 million barrels per day (bpd) from January

  • Oil rises after Saudi vows to cap crude exports next month

    July 24, 2017 10:52 AM 15

    LONDON (Reuters) - Oil rallied on Monday, erasing early losses after leading OPEC producer Saudi Arabia pledged to cut its exports to help speed up the rebalancing of global supply and demand. Saudi Energy Minister Khalid al-Falih said his country would limit crude oil exports at 6.6 million barrels per day in August, almost 1 million bpd below levels

  • Kuwaiti oil minister says further production cuts are possible

    July 23, 2017 10:23 PM 20

    RUSSIA: Kuwait's oil minister Essam al-Marzouq said on Saturday that compliance with oil production cuts by OPEC and non-OPEC countries is good and that deeper cuts are possible. Asked about the possibility of further cuts to support the price of crude, the minister said: "Everything is open." Ministers from the Organization of the Petroleum Exporting