Again, Nigeria’s central bank postpones interest rate-setting meeting

For the second time, the Central Bank of Nigeria (CBN) has postponed its crucial meeting to decide interest rates,

The Monetary Policy Committee (MPC) meeting was earlier scheduled to take place on Monday and Tuesday but has now been postponed to an unspecified date.

According to the MPC schedule published on the bank’s website, the last time the bank had such a meeting was on 25 July, about four months ago.

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This week’s meeting would have been the first MPC meeting under the new CBN governor, Olayemi Cardoso, whose appointment was approved by the Senate in September. Under the acting CBN governor, Folashodun Shonubi, the bank raised interest rates twice.

This means that Cardoso is yet to hold the critical monetary rates-setting meeting since he assumed office in September.

The CBN did not share a date for when the next MPC meeting will be held.

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