Tag
EIU
Naira appreciated for the 4th consecutive week to settle at N1,245 per against the dollar amid amplified confidence in the naira.
The Economist Intelligence Unit (EIU) has projected that Nigeria's Monetary Policy Rate (MPR) is expected to reach a peak of 23.75% this year.
The global cost of living crisis persists, with the annual Worldwide Cost of Living Index by the Economist Intelligence Unit (EIU) revealing a 7.4% rise in the average cost of living this year.
The EIU in a new report for 2024 says many countries across Africa will continue to witness currency depreciation next year with Nigeria.
The report also indicates that CBN "lacks the firepower" to clear the $6 billion forex backlog. It also claimed the central bank also lacks the experience to conduct a foreign currency float leading to a negative outlook for the naira.