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Media Highlights 28-09-2022
(Source: CardinalStone Research, Date: 28-Sep-2022)

 

Global Market News

 

US home price reports show the cooling effect of rising mortgage rates "" CNN

US home prices continued to climb in July. But the market showed signs of cooling as rising mortgage rates pushed more prospective buyers to the sideline. Click US home prices climbed in July, but showed a 'forceful deceleration' | CNN Business for more.

 

IMF criticises UK policy, Bank of England to make big response - Reuters

The International Monetary Fund openly criticised Britain's new economic strategy on Tuesday, following another slide in bond markets that forced the Bank of England to promise a "significant" response to stabilise the economy. Click IMF criticises UK policy, Bank of England to make big response | Reuters for more.

 

Political News

 

Enugu LP attack: We won't resort to violence, says party "" The Guardian

Following recent attack on members in Enugu State, the Labour Party in the South East, yesterday, said it would not resort to violence, no matter the level of provocation, and called on the Inspector General of Police, Usman Baba, to ensure members of the party are protected. Click Enugu LP attack: We won't resort to violence, says party | The Guardian Nigeria News - Nigeria and World News "” Nigeria "” The Guardian Nigeria News "" Nigeria and World News for more.

 

Muslim-Muslim ticket: Caution Babachir Lawal, group tells FG"" Punch

The Christian Youth Movement for Tinubu-Shetima presidential bid has called on the Federal Government and all security agencies to call a former Secretary to the Government of the Federation, Babachir Lawal, to order over his comments on the Muslim-Muslim ticket by the All Progressives Congress, saying his comments could throw the nation into a religious crisis. Click Muslim-Muslim ticket: Caution Babachir Lawal, group tells FG (punchng.com) for more.

 

Macroeconomic News

 

Businesses face crunch, CBN raises rate to 15.5% "" Punch

In consideration of the galloping global and local inflationary levels, the Monetary Policy Committee of the Central Bank of Nigeria on Tuesday raised the benchmark interest rate from 14 to 15.5%. Click Businesses face crunch, CBN raises rate to 15.5% (punchng.com) for more.

 

IMF prescribes fiscal, monetary, and structural reforms to tame food inflation in Nigeria, others "" This Day

The International Monetary Fund (IMF) has prescribed a mix of fiscal, monetary, and structural reforms to help lower soaring food inflation in Nigeria, Ghana and other countries in sub-Saharan Africa. Click IMF Prescribes Fiscal, Monetary, Structural Reforms to Tame Food Inflation in Nigeria, Others "" THISDAYLIVE for more.

 

Power generation slumps to 38MW "" Punch

Data from the Federal Government on Tuesday indicated that the collapse of the national electricity grid that occurred the preceding day led to the crash in power generation from 3,713.1 megawatts to 38MW. Click Power generation slumps to 38MW (punchng.com) for more.

 

DMO: 2022 Borrowing plan increased by N1trn to meet fuel subsidy cost "" This Day

The Debt Management Office (DMO) has explained that the federal government's borrowing plan increased by N1 trillion this year to meet subsidy on petroleum motor spirit (PMS), otherwise known as fuel. Click DMO: 2022 Borrowing Plan Increased by N1trn to Meet Fuel Subsidy Cost "" THISDAYLIVE for more.

 

Lagos takes delivery of trains for Red Line rail system "" This Day

The Lagos State government has achieved another major milestone in its determination to deliver the operation of the Red Line Rail System by the first quarter of 2023. Click Lagos Takes Delivery of Trains for Red Line Rail System "" THISDAYLIVE for more.

 

Senate considers bill seeking to reduce CBN Gov's powers "" The Nation

A bill seeking to whittle down the powers of the Central Bank of Nigeria (CBN) governor has passed second reading at the senate. Click Senate considers bill seeking to reduce CBN Gov's powers The Nation Newspaper (thenationonlineng.net) for more.

 

 

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