Macroeconomic news, Stock/Bond Market Updates in Africa - 12.8.16

The Nairobi Securities Exchange (NSE) has opposed the introduction of limits on lending rates, saying that this will push down the value of listed banks.Nigeria’s first-quarter foreign direct investment flows fell 56% to $175m from $395m a year earlierEgypt and the International Monetary Fund have reached a staff-level agreement over a $12 billion three- year “extended fund facility,” the fund said in a statement.HIGH inflation and low economic growth create a dilemma for monetary policy, as raising interest rates could have a negative effect on the already weak economy.SOUTH African bonds retreated at midday on Friday due to some profit-taking after a week of solid gains.The secondary market yield on Kenya’s 10-year Eurobond has fallen to within 0.4 percentage points of coupon value since the beginning of the year, indicating improved investor confidence in the economy.--- Support this podcast: https://anchor.fm/africanperspective/support