MPC meeting: Balancing negative growth and rising inflation

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The Nigerian Monetary Policy Committee (MPC) in its fifth meeting in 2020 is currently considering, amongst other things, developments in the global and domestic economy to decide on the next monetary policy action to take. So far this year, the committee had voted to increase Cash Reserve Ratio by 500bps in its January meeting, reduced the MPR by 100bps in its May meeting and maintained status-quo, leaving the monetary policy rates and other parameters unchanged, in the July MPC Meeting.

Since the July-2020 meeting, most of the concerns remained unchanged or have deteriorated. In the domestic market, inflation continues to track higher, and printed 13.2% in Aug-2020- the highest in 2 months, pressure on the local unit and reserves remain unabated, amid widening trade deficit and currency market illiquidity despite the resumption of FX sale to BDCs by the CBN.

Furthermore, Q2-2020 GDP numbers showed a 6.1% decline, the largest contraction in three decades, signalling that the economy will slip into a recession by Q3-2020 amid the coronavirus outbreak and the ensuing lockdown. Yet, oil prices firmed at c.$40/ b even as monetary policy authorities around the world maintained an accommodative stance to spur growth.

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Despite the recent policy reforms observed in the energy sector, (Subsidy removal, electricity tariff adjustment), we doubt that The Committee will tweak any of the policy variables.

However, we are of the view that the MPC will have to brainstorm on the appropriate policy dosage to apply in other to restore GDP Growth, pullback inflation to below 12%, resolve the dislocation between market rate of interest and a real return to attract foreign investment as well as stimulate domestic savings, and lastly, fix the currency.

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UNITED CAPITAL RESEARCH

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MPC meeting: Balancing negative growth and rising inflation - Brand SpurMPC meeting: Balancing negative growth and rising inflation - Brand Spur

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MPC meeting: Balancing negative growth and rising inflation - Brand SpurMPC meeting: Balancing negative growth and rising inflation - Brand Spur

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The Trade Desk Appoints Benson Ho as Senior Vice President, North Asia

SHANGHAI, CHINA - Media OutReach - 22 January 2021 - Global advertising technology leader, The Trade Desk, today announced the appointment of Benson Ho as Senior Vice President of North Asia. In this role, Ho will lead the company's business and growth strategy in the North Asia region, covering Greater China, South Korea and Japan. Ho will report to Tim Sims, Chief Revenue Officer.

 

 MPC meeting: Balancing negative growth and rising inflation - Brand Spur

 

Ho brings vast leadership experience in the Asian media industry, most recently as Chief Data Strategy Officer at Tencent Marketing Solution, an important early inventory partner of The Trade Desk in China. Prior to that, he served as Amnet's chief consultant and programmatic expert to Dentsu Aegis Network. He has also served in senior leadership positions at Sizmek, GroupM and Digitas.

 

"One of The Trade Desk's biggest priorities is Asia, and with Benson joining our team, we're confident he will help accelerate our growth strategy in the region," said Tim Sims, Chief Revenue Officer, The Trade Desk. "Benson brings experience and expertise of data-driven advertising, as well as his invaluable relationships with key partners and advertisers, that are specific and unique to the Asian market. I look forward to partnering with Benson as we execute our next phase of growth in the region."

 

"I am delighted to join The Trade Desk and build on the success the company has had in North Asia," said Ho. "The advertising industry is at a turning point right now, and there's enormous opportunity for brands to leverage global best practices and connect with consumers in new ways. It's very exciting to be a part of the team that's delivering a unique solution and expertise to global advertisers in the region."


About The Trade Desk

The Trade Desk™ is a technology company that empowers buyers of advertising. Through its self-service, cloud-based platform, ad buyers can create, manage, and optimize digital advertising campaigns across ad formats and devices. Integrations with major data, inventory, and publisher partners ensure maximum reach and decisioning capabilities, and enterprise APIs enable custom development on top of the platform. Headquartered in Ventura, CA, The Trade Desk has offices across North America, Europe, and Asia Pacific. To learn more, visit thetradedesk.com or follow us on Facebook, MPC meeting: Balancing negative growth and rising inflation - Brand SpurTwitter, and LinkedIn. 

 

MPC meeting: Balancing negative growth and rising inflation - Brand Spur

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