The Monetary Policy Committee (MPC) has retained the Monetary Policy Rate at 14 per cent to combat inflation due to foreseen increase in global and domestic risk to the country’s economy. The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, said this when he briefed newsmen in Abuja on Tuesday on the outcome […]
Read More As the Central Bank of Nigeria’s Monetary Policy Committee (MPC) commences its first meeting in 2019 today, financial market analysts have ruled out the possibility of a cut in interest rate, on the eve of the country’s general election. The two-day meeting is the 265th of the committee. At its last meeting in November 2018, […]
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The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, will next week unfold the Bank’s plans for 2019 year, during the first Monetary Policy Committee (MPC) meeting scheduled for January 21 to 22. The Director, Corporate Communications at the CBN, Mr. Isaac Okorafor, disclosed this in a statement. Also, Okorafor confirmed the CBN’s injection […]
Read More The Central Bank of Nigeria (CBN) plans to increase the flow of credit to the real sector of the economy to consolidate and sustain the nation’s economic recovery. To this end, the apex bank on Thursday released new guidelines for its intervention in the sector. Speaking on the guidelines, the CBN Acting Director of Corporate […]
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The nation’s external reserves fell by $669 million last month, data from the Central Bank of Nigeria showed on Thursday. The reserves, which stood at $47.788 billion as of June 29 and rose to ₦47.798 billion on July 2, dropped by 1.4 per cent to close at $47.119 billion on July 31. The Punch reported […]
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Meanwhile, the Lagos Chamber of Commerce and Industry, LCCI, yesterday, called on the apex bank to prioritize achieving low interest rate over maintaining high monetary policy rate (MPR). While the former, according to the chamber would stimulate investment and enhance growth the latter is aimed at checkmating inflation. At a press conference on the state […]
Read More THE APC Presidential Candidate, Muhammed Buhari, clearly raised public expectation when he promised, at a campaign rally on Monday, March 23, 2015, at Dan Anyiam Stadium, Owerri, that he would “ensure that Naira was equal to dollar value,” if he became President. The News Agency of Nigeria and several Newspapers published this report. Nevertheless, PMB’s […]
Read More The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday called on the Federal Government to address the crisis between farmers and herders, warning that if left unchecked, it would exert inflationary pressure on the economy. The committee expressed this concern in a communique issued at the end of its two-day meeting held […]
Read More Determined to make low-interest, long-term funds available to the real sectors of the nation’s economy, the Central Bank of Nigeria (CBN) yesterday, announced its readiness to lend to large companies in the country by buying Commercial Papers (CPs) issued by such firms. CBN Governor, Mr. Godwin Emefiele, disclosed this at the end of the Monetary […]
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The Monetary Policy Committee of the Central Bank of Nigeria has said the stability of the banking sector is key to economic recovery. In a communiqué of the MPC meeting held on May 21 and 22, with the personal statements of members and the decision of the MPC, which were released on Wednesday, the committee […]
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Despite the rising calls by economic experts for lowering of benchmark interest rate, the Central Bank of Nigeria (CBN)-led Monetary Policy Committee (MPC) is expected to retain all rates as they are since July 26. The MPC’s second meeting of the year holding today and tomorrow in Abuja, from all indication, won’t adjust the rates […]
Read More The Monetary Policy Committee of the Central Bank of Nigeria is expected to cut the Monetary Policy Rate, also known as the benchmark interest rate, before the end of the year. FocusEconomics, in its latest report, FocusEconomics Consensus Forecast Sub-Saharan Africa, noted that the MPC left the MPR and all other monetary policy parameters unchanged […]
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