Dec 18 (Lagos) - The Central Bank of Nigeria (CBN) released its Q1’18 T-bills issue calendar, showing that it plans to sell N 1.080 trillion to refinance maturities worth N 1.067 trillion during the period.
Analysts at Vetiva Capital Management Ltd in V.I recall that the apex bank cancelled the final two primary market auctions of the year, choosing stead to settle N 198 billion of maturing T-bills with Eurobond proceeds and sparking further yield moderation in the fixed income market.
Analysts' believe that the apex bank’s return to rolling over maturing T-bills in Q1’18 is indicative of CBN's continued focus on price and foreign exchange stability, even as they look to loosen monetary policy in the near future.
Analysts' expect the apex bank to adopt a conservative stance towards system liquidity in the coming months. At the same time, analyst foresee further T-bill settlements, pending another Euro-bond issue by the Federal Government.
reporting for easykobo.com on Monday, Dec 18 2017 from Lagos, Nigeria
Source - analysts at Vetiva Capital Management Ltd in V.I, ALL OPINIONS & VIEWS expressed in this article are those of analysts at Vetiva Capital Management Ltd in V.I.
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