Nigeria

Nigeria unexpectedly cuts rate; decision unlikely to move yields in the market

  • Central bank cuts rate by 100bps to 12.5% – the first since March 2019 and the largest since 2016

  • Lower rate expected to boost lending and reverse recessionary trend, as inflation risk takes back seat

  • Rate cut largely inconsequential to the domestic fixed income market as liquidity generally drives rates

Subscribe to read this report

You can read this report by subscribing to a Starter or Pro plan today.

Already have an account? Log in

Disclosures

This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").

The Analyst certifies that the views and forecasts expressed in this report accurately reflect their personal views about the subject, securities, or issuers specified herein. In addition, the Analyst certifies that no part of their compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in this report.

Research ratings explanation and full Tellimer disclaimers

This research is produced by a third party. The Tellimer team has had no editorial input into the content of the note.