Industry & Money View all
Global Economy The Governing Council of the European Central Bank (ECB) elected to keep the key policy rate unchanged at 0.00% at its July policy meeting. The Council noted that the decision was hinged on the need to push inflation higher and mitigate the risk posed by the Delta variant of the COVID-19 pandemic on […]
The Monetary Policy Committee (MPC) is expected to hold its fourth meeting of the year on the 26th and 27th of July 2021. We expect the Committee to assess global and domestic macroeconomic and financial market developments and provide forward guidance on the timing of a change in monetary policy stance. Reopening of Economy, Base […]
Global Economy According to the Bureau of Labour Statistics (BLS), headline inflation in the US jumped by 40bps to 5.4% y/y in June (May: 5.0% y/y) – the sixth consecutive month of increase and the highest since August 2008 (5.4% y/y). Although the increase was concentrated in few categories, we note that it was also […]
Nigeria’s headline inflation moderated by 18bps to 17.75% y/y in June 2021 (May: 17.93% y/y) – the third consecutive month of decline and the lowest since February 2021 (17.33% y/y). The outturn is 8bps lower than Cordros’ estimate (17.83% y/y) and 5bps less than Bloomberg’s median consensus estimate (17.80% y/y), with the deviation coming from […]
Global Economy Private sector activity in the Eurozone expanded to a 15-year high in June in line with the faster expansion across factory activities. According to the IHS Markit, the Eurozone composite PMI surged to 59.5 points in June (May: 57.1 points) – the highest since June 2006, reflecting the pent-up demand that accompanied the […]
This week, we provide perspective on some of the potential economic benefits and downside risks that can accompany the recently passed Petroleum Industry Bill (PIB) 2020 by the National Assembly (NASS). For context, the PIB is an omnibus legislation, designed to reposition the Nigerian oil & gas industry through far-reaching reforms in four (4) key […]
Business News View all
Global Economy The Governing Council of the European Central Bank (ECB) elected to keep the key policy rate unchanged at 0.00% at its July policy meeting. The Council noted that the decision was hinged on the need to push inflation higher and mitigate the risk posed by the Delta variant of the COVID-19 pandemic on […]
Nigeria’s headline inflation moderated by 18bps to 17.75% y/y in June 2021 (May: 17.93% y/y) – the third consecutive month of decline and the lowest since February 2021 (17.33% y/y). The outturn is 8bps lower than Cordros’ estimate (17.83% y/y) and 5bps less than Bloomberg’s median consensus estimate (17.80% y/y), with the deviation coming from […]
This week, we provide perspective on some of the potential economic benefits and downside risks that can accompany the recently passed Petroleum Industry Bill (PIB) 2020 by the National Assembly (NASS). For context, the PIB is an omnibus legislation, designed to reposition the Nigerian oil & gas industry through far-reaching reforms in four (4) key […]
The World Bank estimates that the collapse of select ecosystem services provided by nature can result in a decline in global Gross Domestic Product (GDP) of 2.7 trillion dollars annually by 2030. The bank, in a statement in Washington on Friday, said this was according to a newly published report, adding that Sub-Saharan Africa and […]
Global Economy In our recently published H2-21 Global macroeconomic outlook (see report: Navigating the Uneven Path of Recovery), we reviewed global macroeconomic activities in H1-21 and discussed our views on what we expect in the second half of the year. The global economy appears to be decoupling itself from the havoc caused by the pandemic […]
This week, we picked interest in a report published by the International Monetary Fund (IMF) on Monday (28th June 2021) titled “Sub-Saharan Africa: We Need to Act Now”, as the issue raised may significantly affect the pace of Nigeria’s economic recovery if necessary measures are not taken. According to the report, the level of increase […]
Opinions View all
Pandemic causes tourism investment to plummet
The pandemic has battered the global tourism industry, with investment and job creation declining significantly in 2020, according to a report published today by fDi Intelligence, in association with the UN World Tourism Organization (UNWTO). UNWTO figures outlined in the report show that international arrivals in 2020 dropped by 73% from the previous year, precipitating […]
July 2021: MPC to Hold Rates Steady to Support Economic Recovery
The Monetary Policy Committee (MPC) is expected to hold its fourth meeting of the year on the 26th and 27th of July 2021. We expect the Committee to assess global and domestic macroeconomic and financial market developments and provide forward guidance on the timing of a change in monetary policy stance. Reopening of Economy, Base […]
Ecosystem collapse: Global GDP risks $2.7trn decline annually –WB report
The World Bank estimates that the collapse of select ecosystem services provided by nature can result in a decline in global Gross Domestic Product (GDP) of 2.7 trillion dollars annually by 2030. The bank, in a statement in Washington on Friday, said this was according to a newly published report, adding that Sub-Saharan Africa and […]
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