CBN holds MPC meeting to decide Nigeria’s interest rate

CBN holds MPC meeting to decide Nigeria’s interest rate

 The Central Bank of Nigeria Monetary Policy Committee holds
its meeting on Monday 25 and Tuesday 26, 2024.

 

The apex bank is expected to make a decision on the
country’s interest rate, which stood at 27.25 percent in September 2024.

 

This comes as Nigeria’s headline inflation surged to 33.88
percent in October 2024.

 

The MPC had justified its several interest rate hikes on the
ground that it would tackle inflation.

 

Olayemi Cardoso, the governor of CBN, in the last MPC
meeting vowed that the bank will do everything to bring down Nigeria’s
inflation.

 

Meanwhile, the Centre for the Promotion of Private
Enterprise has consistently advocated for a pause in interest hikes.

 

On the flipside, the Financial Derivative Company believes
MPC should further raise the interest rate to tackle inflation.

Source: CBN holds MPC meeting to decide Nigeria’s interest rate

 - NigerianEye
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