Nigeria In One Minute
MPC to retain policy rates as N266bn inflow boosts interbank liquidity
FINANCIAL market analysts were, weekend, united in their projections about the outcome of the Central Bank of Nigeria’s 118th Monetary Policy Committee, MPC, meeting holding today and tomorrow.
They argued that recent developments in the foreign exchange market and in emerging markets have eliminated the possibility of the MPC reducing the Monetary Policy Rate, MPR.
In a preview of the MPC meeting, titled: “MPC to Maintain Status Quo in View of Volatility in Emerging Markets Currencies”, Afrinvest analysts said: “As we mentioned in our April Headline Inflation reaction, we think the positive development in consumer prices within the last 14 months has presented the CBN with an opportunity to begin to converge Monetary Policy Rate (MPR) with market interest rates which have since priced-in inflation expectation”.
Vanguard, May 21, 2018
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