Archive · Business Recorder
Yields rise, but where’s the stress?
With the monetary policy decision due in two weeks or so, secondary market yields in the money market are inching up, with 10-year bonds pricing close to 13 percent while the policy rate is at 11.5 percent. Increasingly, expectations of a rate hike are building among banking treasuries, with the exception of a few who think there are no visible external and fiscal stresses to warrant another rate hike. The minority group has a valid point. The economy is dead slow. If there was any pickup in demand, it has dried up after the sharp spike in petroleum prices. The government is fully passing on t...
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