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November 21, 2023
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CBN postpones MPC amid rising inflation

The Central Bank of Nigeria has, once again, deferred the meeting of its monetary policy committee despite a surge in inflation. CBN’s Director of Corporate Communications, Dr. Isa Abdulmumin, confirmed the postponement, citing the upcoming Chartered Institute of Bankers of Nigeria dinner as a possible reason.

The event, known as ‘The Governors Day,’ is set for Friday, 24th, where Governor Olayemi Cardoso is expected to present an economic roadmap.

Economic experts express concern over the delay, emphasizing the importance of MPC meetings in providing information about the economy and guiding government policy direction.

Cordros Capital predicts a potential 100 basis points hike in the Monetary Policy Rate, signaling the CBN’s commitment to the ongoing fight against inflation.

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