Inflation revised up to 0.1% in October- Eurozone statistics agency

Prices grew in vegetables, restaurants and fruit in October, while fuel prices were considerably lower than last year.

It had previously given a flash estimate of a zero rate of inflation, saying falling energy prices had offset food price growth.

 

Prices remain subdued, keeping pressure on the European Central Bank (ECB) to revise monetary policy.

Nigeria’s CBN adjust peg again, naira falls

The Central Bank of Nigeria adjusted its exchange rate peg on Tuesday to 196.95 naira against the dollar from the 196.90 set last week, data on the bank’s website showed.

CBN pointed, External Reserves fall by $1.6bn in March

Data published by the Central Bank of Nigeria (CBN) indicated that the external reserve fell from $31.356 billion on February 27th February to $29.79 billion on Monday, March 30th. This represents 4.9 percent decline.

Consequently, the external reserve has fallen by $4.49 billion or 13 percent since the beginning of the year.

It would be recalled that the continued decline of the external reserve was cited by Fitch credit rating  company, for downgrading Nigeria’s credit rating Outlook to ‘Negative’ from ‘Stable’.