The week that was (June 17-21) CBN’s ‘radio silence’ on OMO activity: Money markets remained liquid for the second consecutive week as the CBN did not conduct any OMO bill auction. This helped keep the interbank rates in single digits: OBB (8.7%) and OVN (9.2%). However, front-end yields closed higher (+20bps on average) driven by […]

The week that was (June 10-14) Divergent patterns across the curve: Interest rates moved in different directions across the short and long end of the Naira yield curve last week. Short term interest rates declined (-46bps) in response to a liquidity build-up during the four-day trading week after the CBN held off from undertaking an […]