Tag Archives: rate

The euro further declined against the US dollar following the release of US inflation data on Wednesday. Markets will be closely watching the upcoming ECB decision today. ADVERTISEMENT The euro continued to weaken against the US dollar following the US CPI data on Wednesday. The pair of EUR/USD fell for the fourth straight trading day to just under 1.05, the …

Gold prices surged to a more than two-week high amid China’s return on gold buying and rising geopolitical tensions following the Syrian unrest. However, an analyst suggests caution. ADVERTISEMENT Gold prices rose for the past two trading days, fuelled by mounting haven demands and China’s renewed gold purchases. Expectations for further rate cuts by major central banks have also contributed …

Annual inflation in the eurozone edged higher in November, matching expectations, while Germany reported its worst retail sales drop in two years, signalling broader economic challenges for the region. ADVERTISEMENT Eurozone inflation rose to 2.3% year-on-year in November, up from 2% in October, according to preliminary data released by Eurostat on Friday. The figure aligns with market expectations and reflects …

A Nigerian man has taken to Twitter to sub Nigerians relocating to Canada despite the low employment rate in the foreign country.   The National Bureau of Statistics (NBS) on Monday, November 25, announced that Nigeria’s unemployment rate decreased to 4.3% in the second quarter (Q2) of 2024, marking a decline from 5.3% in the previous quarter (Q1 2024). In …

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has again  raised the benchmark interest rate by 25 basis points from 27.25% to 27.50%  CBN Governor Olayemi Cardoso disclosed this to journalists at the end of the two-day  298th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, Nov. 26.  Reading the communique of the 298th meeting of …

The National Bureau of Statistics (NBS) has announced that Nigeria’s unemployment rate decreased to 4.3% in the second quarter (Q2) of 2024, marking a decline from 5.3% in the previous quarter (Q1 2024).   According to the NBS report released on Monday, November 25, the unemployment rate reflects the percentage of the labor force actively searching for work but unable …

Angel Smith, a former Big Brother Naija housemate, has gone on X to express concern over the way young womwn are getting pregnant.  She went on to share a controversial suggestion for women to avoid getting pregnant.  When told to delete the suggestion, she refused and said, “No girl, my sisters are in trouble.”  

Money markets see an increased likelihood of the European Central Bank (ECB) deepening its rate cuts in December following weak economic data. However, analysts expect the bank to maintain a gradual approach to rate reductions due to the persistent upside risks in inflation. ADVERTISEMENT Market participants have raised their expectations for the European Central Bank (ECB) to take a significant …

Economists expect the ECB to continue rate cuts, aiming for 2% by mid-2025. Lagarde’s focus on downside inflation risks and weak growth signals further easing. ADVERTISEMENT Economists and market analysts are in broad agreement that the European Central Bank (ECB) will continue cutting interest rates at each meeting for the foreseeable future, following Thursday’s decision to reduce rates by 25 …

The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said that the apex bank does not determine the foreign exchange rate.    The CBN boss stated this at the launch of the Nigeria Development Update in Abuja on Thursday, October 17. He said the FX rates are only determined by economic fundamentals.     In his words …