Vanguard News
CBN reports Q4 negative consumer expectations
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ECONOMY
The Central Bank of Nigeria (CBN) has reported a negative consumer expectations in its fourth quarter 2020 Consumer Expectations Survey (CES). The survey report stated: “Consumers’ overall outlook was negative in the current quarter, as consumers were pessimistic in their outlook. However, consumers have a positive outlook for the next quarter and the next 12 months.
“Majority of consumers believe that the next 12 months would not be an ideal time to purchase big-ticket items like motor vehicles and house & lot.
“Most respondents expected the naira to appreciate, inflation rate to rise and borrowing rate to rise in the next 12 months.”
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Synairgen [SNG.UK] +23% (trial update)
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Speakers
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EU chief negotiator Barnier stated in EU Parliament that the moment of truth for Brexit was here; possibility of a deal remained but time was short and obstacles for an agreement remained large. Had to be prepared for all scenarios
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BOJ Gov Kuroda post rate decision press conference reiterated stance that downward pressure on prices will last for a while; no plan to change 2% inflation target and did not see risk of economy falling back into deflation again. Reiterated view that CPI to remain below 0% for time being. Aimed for more effective and sustainable policy to hit inflation target of 2%. To examine Yield Control (YCC) and asset purchases at March policy meeting but would assess various steps assess various steps such as asset purchases and YCC. Not planning to review negative rates or plan to change overshooting commitment . Planned assessment does not mean seeking exit from stimulus
Dire Warning From Europe Curbs Market Rally
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Yesterday, major indices came out of the gate buoyed by several positive developments and speculation. But the rally effort failed to seduce fence-sitters, leaving the rally open to an assortment of news that reminded investors there are problems now - even as a path to normalcy seems clear.
More shutdown news, including scuttlebutt about a full lockdown of New York City, began to chip away at the rally. Major indices also got weaker throughout the session after there was no follow up to early morning headlines of a potential fiscal stimulus bill.
BSP survey reveals improving consumer, business sentiments – Manila Bulletin mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.