West Africa money market review
30 June 2019 | 11:19 am
Chapel Hill Denham says spreads tightened and yields fell across African sovereign Eurobonds following the dovish signalling by key central banks last week which buoyed global risk appetite. Omotola Abimbola, Macro and Fixed Income Analyst at Chapel Hill Denham joins CNBC Africa for a focused discussion on the West African money market.
20 Jun 2022
The maiden edition of the Nigeria Solidarity Support Fund (NSSF) Awards treated winners and guests to a delightful evening on the 9th of June at NOK by Alara, Lagos. The awards celebrated and recognised people who have contributed massively to the healthcare sector in Nigeria and revealed the continued efforts of the NSSF to provide better healthcare in Nigeria.
17 Jun 2022
The Bank of England has followed the US Federal Reserve in raising interest rates. Both economies are battling the highest level of inflation in years and hope that tighter monetary policy will curb spiralling price rises. Also in the show: Australia's new government commits to more ambitious emissions reduction targets, and TV critics question Netflix's plans for a reality show based on the life-or-death hit "Squid Game".
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Soaring inflation is prompting the bank to raise interest rates from current historic lows. The move could put a brake on rising prices but might also dampen growth.
The Bank of England has warned that Britain is facing a recession as it hiked its benchmark interest rate by 0.5%.
Nigeria has successfully secured the support from the World Bank with a commitment to help the country phase out petrol subsidies and meet up with its Energy Transition plan. This follows meetings between Nigeria’s Vice President and World Bank Group President David Malpass. Other meetings are currently underway with U.S. officials and development partners.
Israeli authorities are pushing to impose new restrictions on foreigners who wish to visit or live in the West Bank. Human rights groups say the measures will have serious consequences for thousands of people who are married to or in relationships with Palestinians. The regulations, which were due to come into effect this week, have now been amended and their implementation delayed until October after being challenged in the courts.
Five banks were stormed by desperate depositors in Lebanon Friday making it seven heists this week alone. Those "liberating" their money have been greeted as heroes. Banks are now regrouping.
Sweden's Riksbank has kicked off what's expected to be a series of interest rate hikes around the world, as central banks struggle to curb inflation. The 100 basis point hike is Sweden's biggest in three decades, in response to a cost-of-living crisis that's affecting households and businesses.
Many central banks around the world are following the lead of the US Federal Reserve and raising their benchmark interest rates in order to rein in inflation. The Bank of Japan, however, is marching to the beat of its own drum. At a policy meeting this Thursday, the bank maintained its ultra-loose monetary policy in a bid to spur more internal demand. Meanwhile, the yen and many other currencies continue to fall against the dollar.
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