HOT TOPIC COMMENT ON CBN INTEREST RATES

Written by: Lukman Otunuga, FXTM Research Analyst

Investors were caught completely off-guard on Tuesday, after the Central Bank of Nigeria (CBN) unexpectedly cut its benchmark interest rate for the first time in more than two years in an effort to support growth.

The central bank reduced interest rates from 14% to 13.5% as inflationary pressures eased and macroeconomic conditions stabilized during the first quarter of 2019. One of the initial arguments against a possible rate cut in Nigeria was the widening interest rate differentials between the Dollar and Naira. However, a “patient” Federal Reserve coupled with rising speculation of a possible rate cut in the United States, has offered the central bank some breathing room to take action. Today’s move by the CBN may open the doors to further rate cuts in the future, especially if macroeconomic conditions continue to improve and inflation cools further.

Have you heard this? Many Nigerian exporters have been defrauded of huge amount of money in the process of exporting commodities to foreign countries. Do you know why? They were not trained on export operations, management, documentations and the best methods of payment in export trade. This is terrible!!! Nigerians cannot continue to lose money to foreigners in the course of export business. Exporters, why don’t you get a practical manual that teaches the stages of export trade from processing and packaging of commodities to receipt of payment by the foreign buyers. It teaches export operations, export management, export documentations and methods of payment in export trade? It is a contemporary step-by-step guide to export trade. It tells all the contemporary dynamics in export trade. To get it, click on the link below:
http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html