CBN announces Date for MPC Meeting


By NIYI Jacobs

The Central Bank of Nigeria, CBN, has fixed March 25 and 26, 2024, as the dates for its 294th Monetary Policy Committee meeting amid the continued inflation rise in Nigeria.
This was disclosed in the meeting schedule recently posted on CBN’s website.

Earlier in its February 26 and 27 meeting, MPC raised interest rates by 400 basis points, taking the Monetary Policy Rate from 18.75 per cent to 22.75 per cent.
Despite the MPR hike, Nigeria’s inflation rate for February 2024 hit a new high of 31.70 per cent, while the headline inflation figure increased to 3.12 per cent month-on-month