Up 75! – The Monetary Policy Committee (MPC) of the Central Bank met yesterday and decided to raise the Central Bank Rate (CBR) by 75bps to 9.50%. The Committee noted the sustained inflationary pressures, the elevated global risks and their potential impact in our economy, and concluded there was need for further tightening of the monetary policy to anchor inflation expectations. Attached is the Press Statement from the MPC for your perusal. For additional colour, here is a link to the CBK Governor’s press conference to begin at 11.00 a.m. today; https://www.youtube.com/watch?v=gUoCqJgQH0Y
For your trading activities ahead, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting!
Below are the two-way quotes for the benchmark tenors, two-way quotes for the infrastructure bonds and the key rates:
Attached are the bond positions available today, Monetary Policy Committee (MPC) and the April 2023 Bond Auction prospectus.