The Financial Derivatives company, FDCis projecting a stable Naira and a drop in inflation in the months ahead as data show that the Central Bank has tamed growth in money supply which peaked at 78% in May of last year.
The company also expect a cut of a hefty 50bp in policy rate by the Monetary Policy Committee, MPC when it holds its next meeting.
According to Bismarck Rewane, Managing Director of FDC the next inflation data announced by the National Bureau of Statistics will likely reveal a slight decline to 23.15% while the Naira will trade at about N1,600-N1,650 with the price of PMS falling further to N845 a litre and diesel traading at N950/litre.