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Developments In The Financial System During The Fourth Quarter Of 1987, Central Bank Of Nigeria Cbn
Developments In The Financial System During The Fourth Quarter Of 1987, Central Bank Of Nigeria Cbn
Economic and Financial Review
Growth in monetary aggregates accelerated during the fourth quarter, as the narrow measure of money stock (Ml) rose substantially by 20.2 per cent, compared with 5.0 per cent in the preceding quarter. The major factors responsible for this increase were increased government reliance on bank credit to bridge budgetary gaps and the traditional seasonal rise in demand for credit by the private sector. The broad money (M2) also rose as a result of the rise in Ml and the expansion in commercial banks' time and saving deposit liabilities, following the enhanced yield on these deposits.
Developments In The Financial System During The Second Quarter Of 1987, Central Bank Of Nigeria Cbn
Developments In The Financial System During The Second Quarter Of 1987, Central Bank Of Nigeria Cbn
Economic and Financial Review
Money supply, Ml declined by_ a further 3.5 per c~nt in the second quarter of 1987 followmg the seasonal decline of 3.8 per cent in the first quarter. The broader ~easure of money stock, M2 which declined by 0.8 per cent m the first quarter, showed an increase of 1.4 per cent in the second quarter. While sharp declines in "other" assets (net) ~d foreign assets depressed Ml in the first quarter, the ma1or contractionary factor in the second quarter was the sharp increase in quasi-money. The pace of expansion of banking system credit to the domestic economy quickened in …
Developments In The Financial System During The First Quarter Of 1987, Central Bank Of Nigeria Cbn
Developments In The Financial System During The First Quarter Of 1987, Central Bank Of Nigeria Cbn
Economic and Financial Review
Money supply as measured by both Ml and M2 declined in the first quarter of 1987 due mainly to declines in net foreign assets and ••other'' assets net of the banking system. Banking system credit, on the other hand increased although at a slower pace than in the last quarter of 1986. While both the money and capital markets remained active during the quarter, the tempo of activities slowed down considerably from the December 1986level.