November 21, 2012 / Financial Derivatives Company
As anticipated, the MPC maintained its status quo, keeping the benchmark interest rate at 12% p.a. and other rates constant. Nigeria’s inflation rate rose to 11.7% in October and output contracted to 6.48% in Q3. With a declining year on year GDP growth rate and a rather subdued increase in inflation rate, what will be the direction of interest rates in 2013?
This edition of FDC’s monthly publication discusses this issue and other macroeconomic events with their implications on the Nigerian economy.