Nigeria’s rate-setting committee to decide on interest rate next week

Nigeria’s rate-setting committee to decide on interest rate next week

<ul><li>Central Bank of Nigeria (CBN) reschedules its Monetary Policy Committee (MPC) to January 23rd and 24th, 2020.</li><li>The meeting will be the first in 2020.&nbsp;</li><li>At the last meeting, CBN MPC left the country’s interest rate at 13.5%% to tame uptick in inflationary pressures and support price stability.</li></ul>

<p class="">The <strong>Central Bank of Nigeria</strong> (CBN) has rescheduled its first<strong> Monetary Policy Committee </strong>(MPC) meeting for 2020.</p>

<p class="">The meeting earlier scheduled to hold on Monday and Tuesday, January 20th and 21st, 2020, will now hold on Thursday and Friday, January 23rd and 24th, 2020.</p>

<p class=""><strong>Isaac Okorafor</strong>, the apex bank’s Director of Corporate Communication, disclosed this earlier this week.</p>

<figure class="image" align="center"> <img src="http://ocdn.eu/images/pulscms/MDM7MDA_/b26d27145154ab56dfa386efbfd273f8.jpeg" alt="Central Bank of Nigeria (CBN) Governor, Godwin Emefiele"> <figcaption>Central Bank of Nigeria (CBN) Governor, Godwin Emefiele</figcaption> </figure>

<p class="">At the November 2019 meeting, the CBN MPC left the country’s interest rate at 13.5% while inflation climbed to 11.9%, higher than the single rate target.</p>

<p class="">In a communique issued at the end of the last meeting, members of the Committee believed that maintaining the current policy stance will help tame uptick in inflationary pressures and support price stability.</p>

<p class="">The also<a href="https://www.pulse.ng/bi/finance/cbns-mpc-takeaways-5-urgent-issues-before-president-buhari-in-2020/3cpczy1" id="682f6b50-aea3-4c00-b3c6-9d12d5d6c92f" data-link-role-code="none"> listed</a> institutional reforms in revenue-generating and improved ease of doing business among urgent issues the <strong>President Muhammadu Buhari</strong>-led executive team needs to face.</p>

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