Macro economy The Purchasing Managers Index for the month maintained contractionary bandwidth, as both Manufacturing and Non-manufacturing PMI were 46.9 index points and 41.9 index points respectively. According to the 14 subsectors of the Manufacturing activities surveyed, 4 subsectors were within the expansionary corridor, whereas of the 5 activities level of the manufacturing sectors, only…
The consumer price index for the month of September maintained its elevated pressure as the index for the month was 13.71%, which represents a 0.49 percentage change from the previous month Consumer Price Index of 13.22%. The connecting index to the Consumer Price Index, returned elevated indices for the month, as both food item inflation…
The Monetary policy Committee affirmed to the aberration in the economy space, which is evidence by global, supply chain disruption, rising unemployment trend, volatile crude oil prices, and suppressed demand that have caved in since the pandemic outbreak. Given the level of domestic economic contraction, persistent elevated inflationary pressure, suppressed government revenue, unabated unemployment…
Macroeconomy The country’s Consumer Price Index for the month of June remained elevated at 12.56%, while prior month CPI was 12.40%, the persistent rise in inflation have been propelled by cost pull inflation associated with logistics and structural impediments that affect agricultural products. At the held MPC meeting for the Month of July, the committee…
MPC COMMUNIQUE HIGHLIGHTS The committee alluded to the recent IMF global economic projection; where it stated that the global economic trajectory was headed for a contraction of about 4.9% for 2020 fiscal year. Ø The committee accentuated on the inflationary pressure being witnessed mostly within the emerging markets and developing economies, a visible trend among…
The country’s Consumer Price Index for the month of August decline to 11.02%, representing two month consecutive decline in the core inflation rate, while compared with the previous core inflation rate that stood at 11.08%, the inflation rate on month on month basis changed by 0.06 percent point lower. Read More
In the just concluded MPC meeting, the following were the resolution reached by the Monetary Policy Committee Members; Monetary Policy Rate was retained at 13.5% Cash Reverse Ratio was retained at 22.5% Liquidity Ratio was retained at 30.0% Asymmetric window was retained within the corridor of+200 and -500 basis points around the MPR
In the just concluded MPC meeting, the following were the resolution reached by the Monetary Policy Committee_ Read more
