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 […]
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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 […]
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Financial and economic experts have said a downward review of the Monetary Policy Rate by the Central Bank of Nigeria will no longer be necessary. Private sector operators and some stakeholders, including experts have been clamouring for a reduction in the MPR to enable the real sector to access more credit from banks. According to […]
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Following its expectation of rebound in non-oil sector and oil sector low base push, Afrinvest (West Africa) Limited has predicted Gross Domestic Product (GDP) growth to accelerate to 2.1 per cent in 2018 from its full year estimate of 0.7 per cent for 2017. The company stated that major downside risks to its forecast include […]
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Nigeria’s Monetary Policy Committee (MPC) of Central Bank, CBN on Tuesday voted overwhelmingly to retain all the basic policy parameters. These include monetary policy rate (MPR) 14.0 percent; cash reserve ratio (CRR) at 22.5 per cent; banks’ liquidity ratio at 30.0 per cent; and also left the asymmetric corridor at +200 and -500 basis points […]
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The Nigeria’s Central Bank Governor, Mr. Godwin Emefiele, yesterday, gave reasons why the Monetary Policy Committee (MPC), retained all the key economic parameters for the sixth consecutive time after yesterday meeting in Abuja. The committee voted (6:1) to maintain the Monetary Policy Rate (MPR) at 14 per cent, Cash Reserve Ratio (CRR) at 22.5 per […]
Read More The Central Bank of Nigeria (CBN) yesterday kept its Monetary Policy Rate (MPR), its base interest rate, at 14 per cent. CBN Governor Godwin Emiefele, who spoke to reporters after the Monetary Policy Committee (MPC) meeting in Abuja, said the recession corridor would come to an end by the third quarter because of the positive […]
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