CBN’s Business Expectations report predicts stable naira

The naira is tipped to appreciate this month, next month and within the next 12 months, a business expectations report released on Wednesday by the Central Bank of Nigeria has shown.

According to the report, the level of inflation is also expected to increase slightly in both the next six months and the next 12 months while borrowing rate will rise in the current month, next month and the next 12 months. The August 2019 Business Expectations Survey was conducted from August 12-21, 2019 with a sample size of 1050 businesses nationwide. A response rate of 95.4 per cent was achieved, and the sample covered the services, industrial, wholesale/retail trade, and construction sectors.

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