Economic

MPC: CBN further hikes benchmark interest rate to 14%

Against what many economists and financial analysts have predicted as a likely outcome of the Central Bank of Nigeria’s (CBN’s) Monetary Policy Committee (MPC) bi-monthly meeting, the committee after its two days meeting further increased the benchmark interest rate by 100 basis to 14 per cent from 13 per cent. Some analysts had predicted that

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South Korea to loosen social distancing orders from May 6

South Korea will relax its strict social distancing rules starting Wednesday as the number of new coronavirus cases have remained low in the country, South Korea’s Prime Minister Chung Sye-kyun said on Sunday. The measures to contain the spread of the virus have been in effect since March 22. At a briefing, Chung said that

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The Minister of Health, Osagie Ehanire, says President Muhammadu Buhari will determine when to lift the lockdown

Ehanire disclosed this on Sunday during an interview on Channels Television’s Sunday Politics regarding efforts made by the Federal Government to tackle COVID-19 pandemic in the country. “The President will make that announcement in his own time. We will give him the facts, he will consider the facts and make his own announcements using his own wisdom,”

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Trump’s name will be added to coronavirus stimulus checks

US President Donald Trump’s name will appear on checks sent to millions of Americans to combat the economic effects of the coronavirus in a last-minute Treasury Department order, a senior administration official confirmed to CNN on Tuesday. The decision to add Trump’s name will not result in a delay for Americans receiving those checks, the senior administration

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Trump rages at criticism while governors craft their own plans to reopen the economy

With 23,000 Americans dead and millions without a paycheck, President Donald Trump dimmed the lights in the White House briefing room, fired up a misleading propaganda video and boiled over. In one of the most unchained presidential tantrums ever captured on television, Trump’s Monday display flouted every notion of calm leadership by the commander in chief in a

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Los Angeles mayor: “The best way to save lives is to make sure we don’t open the economy early”

The mayor of Los Angeles urged the US to continue social distancing and ramp up coronavirus testing, warning that President Donald Trump’s plan to reopen the country could place lives at risk. “The best way to help the economy is to make sure that we have the public health side taken care of, and the

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Lack of coronavirus testing may blunt Trump’s planned economic revival

US President Donald Trump says America does not need and will never have mass coronavirus testing, despite warnings by experts that a comprehensive program is vital to getting life back to normal. The inadequacy of testing for the virus has been a constant deficiency of the government’s handling of the pandemic from the start. Fixing this deficiency, as well as creating

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The US is already in a recession, dozens of economists say

The US is already in a recession and will stay that way for several more months, according to a survey of 45 economists. The economists predict a sharp, short recession for the first half of 2020 as the coronavirus pandemic “severely restricts economic activity,” according to the survey from the National Association for Business Economics. Economic growth

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Trump economic adviser says economy will be reopened “on a rolling basis”

Top Trump economic adviser Larry Kudlow suggested on Fox Business this afternoon that the economy will be reopened on a “rolling basis.” “What we’re looking at here, I hope, will be a two month gap interference, if you will. March, end of April. The next month or two, we should be able to restart, at

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