Federal Government seeks World Bank loan approval for $2.25bn Funding Funds earmarked for two major development projects. Loans aimed at enhancing economic stability, resource mobilization, and fiscal reforms in Nigeria. EKO HOT BLOG reports that the Federal Government is gearing up to secure new loan funding from the World Bank, with approval anticipated for loans … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate, which benchmarks interest rates, from 22.75 percent to 24.75 percent. The CBN Governor, Olayemi Cardoso, disclosed this on Tuesday at the 294th meeting of the Monetary Policy Committee (MPC) press briefing in Abuja. Editor’s Picks Fake News Alert: … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has announced that the 294th meeting of the Monetary Policy Committee (MPC) will be held on Monday, March 25, 2024. The apex bank announced this information on its official X handle on Tuesday. The event will take place at the CBN headquarters in Abuja, … Read more
EKO HOT BLOG reports that the Monetary Policy Committee of the Central Bank of Nigeria (CBN) has announced its intention to increase the benchmark interest rate by 25 basis points to 18.75 per cent. The Acting CBN Governor, Folashodun Shonubi made the disclosure while reading the communiqué of the fourth MPC meeting of the year … Read more
The CBN’s policy-setting committee raised the monetary policy rate (MPR) from 16.5% to 17.5%. The MPR is the baseline interest rate in an economy; every other interest rate used within an economy is built on it. The CBN governor announced the new interest rate on Tuesday. Eko Hot Blog reports that the Monetary Policy Committee … Read more
US Unemployment Rate Rises To 3.7% In August EKO HOT BLOG reports that American employers slowed the pace of hiring in August after the surprising surge in the prior month and the jobless rate edged up, according to government data Friday, which could offer the central bank some relief that its inflation-fighting efforts are … Read more
CBN Increases Interest Rate To 13.5% Amid Inflation Emefiele said the MPC is suspicious, there might be an aggressive accretion of inflation EDITOR’S PICK Many Feared Dead As Explosion Rocks Kano 2023 Presidency: Ohanaeze Threatens Boycott Of Polls Over Zoning Niger-Delta Youth Group Sends Strong Warning To Wike Over Dagogo Detention EKO HOT BLOG reports … Read more
CBN has retained Monetary Policy, See New Interest Rate below Eko Hot Blog reports that the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) led by Godwin Emefiele, has voted to retain the monetary policy rate (MPR), which measures interest rate, at 11.5 percent. This online news platform understands that the Monetary Policy Rate (MPR) … Read more
Britain’s economy, lifted by the country’s post-election political stability, risks fresh turbulence as Prime Minister Boris Johnson seeks tricky Brexit trade deals amid global threats that include the coronavirus. Recent positive British economic data offset weaker figures at the end of 2019, but this is not expected to have a lasting impact despite government promises … Read more
President Recep Tayyip Erdogan has sacked the governor of Turkey’s central bank and replaced him with his deputy, a presidential decree said Saturday, after months of tension with the government over high interest rates. Murat Cetinkaya, who was appointed to the role in April 2016, has been replaced by Murat Uysal, according to the decree … Read more