Finance & EconomyNews

Bond Market Braces Up for MPC’s Likely Rate Rise

Waiting for the Central Bank of Nigeria’s (CBN’s) Monetary Policy Committee’s decision on the indicative monetary policy rate, the bond market experienced selloffs yesterday, concentrated at the short and long end of the curve. The average benchmark yield pivoted outward by 15pbs to 13.37 from 13.35 recorded in the previous trading sessions. The selloffs signalled investors’ belief that the hawkish stance of the CBN would continue as inflation maintained an upward trend. Analysts expect the selloff sentiment to extend today as we await the decision (see table 1 below). 

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