Global Economy –Rundown:
The United State Federal Reserve left its key lending rate within the corridors of 1.50%-1.75%, while it upheld that at the current rate the Country’s economic expansion would be sustained, citing the strong job market and inflation rate clinching to the Federal Reserve rate of 2%. The Fed in agreeing to cap its key lending rate around the above corridors, the basis of its consideration was pulled from the available economic data that suggested the following; robust labour market, moderated economy activity performance and moderate growth rate of household spending, while on the flipside to the positives of the country’s encouraging economic data was the weak pace of performance experienced within the Business investment and Export.
Domestic Economy –Rundown:
The level of foreign direct investment attracted by the country within the third quarter of the previous year decline to $498.62m, against $906.9m recorded in the second quarter of same year, also, Foreign portfolio investment into the country slide to $2.59bn from $4.46bn within similar time frame highlighted above, as macro economy indices were not reflecting favourable sentiment that would have spurred fresh inflow or restraining such capital flight, some of the unfavourable indices was the state of insecurity in the country, and government preserved hostility to existing foreign directly invested enterprise, that was slammed with various litigation and this was viewed as deterring factors to enabling business environment that will offer desired returns to their investment, as such capital flight became inevitable, as investment incentive towards the country faded off.