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Friday, September 20, 2019 /09:25AM / by FDC Ltd
US Fed Cut Rates
The US Federal Reserve slashed its
key interest rate by 25bps to 1.75%p.a.-2%p.a. at its policy meeting. This was
the second rate cut in 2019. The Fed was however vague about the future
direction of monetary policy for the rest of the year. Nonetheless, lower US
interest rates would mitigate the risk of capital flow reversals from Nigeria
and would encourage the MPC to follow suit.
Demand for Coffee Set
to Increase
Coffee consumption in Nigeria rose
by more than 20% between 2010 and 2015 and is expected to increase further.
Nigeria is a fringe producer of coffee, with annual output estimated at 1,900
tonnes (0.02% of global output). As the country seeks to diversify from its oil
dependence, a boost in domestic production of coffee could be crucial for
economic growth.
The attached slides addresses these and other issues discussed
on the Channels TV Business Morning programme.
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