CBN FAILS TO MEET ON MONETARY POLICY COMMITTEE TO ADDRESS THE INFLATION RATE IN NIGERIA.
CBN has, for the second consecutive time, postponed the Monetary Policy Committee (MPC) meeting slated for last Monday and Tuesday.
According to the MPC schedule published on the bank’s website, the last time the bank had such a meeting was on 25 July, almost four months ago.
By implication, the newly appointed CBN governor, Olayemi Cardoso, is yet to hold the critical monetary rates-setting meeting since he assumed office in September.
The official did not also give any specific date that the bank intends to hold the next MPC sitting.
At the last MPC meeting in July, the central bank pegged the benchmark lending rate at 18.75 per cent.
Analysts say investors have been looking forward to the MPC meeting for signals on how the lender intends to address the nation’s inflationary trend.
“MPC is not holding,” Isa Abdulmumin, the spokesperson for the bank, told Bloomberg in a text message on Monday.
