Tag: MPR

With the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) retaining the Monetary Policy Rate (MPR) and other key rates, economists and analysts have urged the apex bank not to lose sight of rising inflation and unemployment. Indeed, the monetary authorities are caught between dealing with the expected negative gross domestic product (GDP) growth for the second and third quarters, as well as rising inflation that has put consumers on the edge and pressure on currency in circulation. While inflation uncertainty has become a growing concern for investors, savers and consumers alike, the need to the GDP to counter the rise in jobless rate may have put authorities on the ledge, thus making a choice to retain rates and observe trends. The MPC held the Monetary Po...