P
ProfRem
Guest
The Central Bank of Nigeria’s Monetary Policy will Monday (today) its two-day bi-monthly meeting in Abuja.
Recall that at its last meeting in March,the committee (MPC) retained all monetary policies rates.
Godwin Emefiele, governor of the bank had announced that the committee decided to keep key interest rate at 14 percent, while cash reserve ratio (CRR) and liquidity ratio were held at 22.5 percent and 30 percent respectively.
The meeting economic experts and analysts have predicted that the committee is expected to maintain the status quo by keeping the monetary policy instruments at the current levels.
This is coming as the National Bureau of Statistics said the Consumer Price Index, which gauges inflation, increased by 17.24 per cent (year-on-year) though at a slower pace in April, translating to 0.02 percentage points reduction from the 17.26 per cent recorded in March.
According to the NBS, the decline in the headline CPI, which is occurring consecutively for three months, has exhibited effects of some easing in already high food and non-food prices, as well as favourable base effects over 2016 prices.
Recall that at its last meeting in March,the committee (MPC) retained all monetary policies rates.
Godwin Emefiele, governor of the bank had announced that the committee decided to keep key interest rate at 14 percent, while cash reserve ratio (CRR) and liquidity ratio were held at 22.5 percent and 30 percent respectively.
The meeting economic experts and analysts have predicted that the committee is expected to maintain the status quo by keeping the monetary policy instruments at the current levels.
This is coming as the National Bureau of Statistics said the Consumer Price Index, which gauges inflation, increased by 17.24 per cent (year-on-year) though at a slower pace in April, translating to 0.02 percentage points reduction from the 17.26 per cent recorded in March.
According to the NBS, the decline in the headline CPI, which is occurring consecutively for three months, has exhibited effects of some easing in already high food and non-food prices, as well as favourable base effects over 2016 prices.
