CBN MPC meeting postponed for second time in two months

The Central Bank of Nigeria, CBN, has postponed the meeting of its Monetary Policy Committee, MPC, for the second time since September 2023.

Isa Abdulmumin, the director of corporate communications of the apex bank, confirmed that the MPC meeting will not be held.

Since the appointment of Olayemi Cardoso, the meeting of the MPC – a monthly monetary policy decision-making body – has been shifted twice.

MEZIESBLOG reports that during the 292nd MPC meeting held on July 24th and 25th, the bank decided to tighten the economy by raising the interest rate to 18.75 per cent from 18.50 per cent amid rising Inflation.

Meanwhile, with Nigeria’s inflation soaring to 27.33 per cent in October from 24.08 per cent in July, the Country’s economy awaits the MPC decision.

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