Nigeria’s MPC retains MPR at 13.5%

PUBLISHED: Tue, 24 Mar 2020 14:53:43 GMT


In a surprise move, Nigeria’s Monetary Policy Committee kept its key policy rate unchanged at 13.5 per cent and also retained all its policy parameters. CBN Governor Godwin Emefiele also stressed that tightening the MPR could reduce money supply and also aggregate demand, while loosening at this time could exacerbate the already worsening inflation. CNBC Africa’s Wole Famurewa breaks down the MPC’s decision with Charles Robertson, Global Chief Economist of Renaissance Capital, Bismarck Rewane, CEO of Financial Derivatives and Lanre Buluro, Director of Chapel Hill Denham, and Abdulrahman Yinusa, Governing Council Member of the Chartered Institute of Bankers in Nigeria….

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