This week, the Nigerian stock market ended on a bearish note for the second week in a row, with the All-Share Index shedding 0.14% to close at 51,705.61 basis points as the market begins to feel the pressure as a result of hike in interest rate by the CBN and galloping inflationary numbers.
The global economy is currently dealing with unprecedented level of inflation rate, attributed to the surge in energy prices and food crisis in major markets across the globe. The Central Bank of Nigeria raised the MPR to 13% by 150 basis points in May 2022, which is yet to abate the rising cost of goods and services in the country.
Here is a compilation of this week’s notable happenings in the Nigeria macro-economic space, markets, regulators as well as other world economies.
Obviously the whole financial activities is experiencing difficult times. The prices of energy and food related variables are on the hike pace leading to reduction in luxury consumptions, decline in profit margin by the producers and increase in pressure to stakeholders in meeting up the basic expectations of the economy. What is the way out?