Analysts predict a potential increase in interest rates as the Monetary Policy Committee convenes for its meeting

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The Central Bank of Nigeria’s Monetary Policy Committee is anticipated to raise the benchmark interest rate at this week’s meeting, as suggested by financial analysts.

This meeting marks the first under the new CBN Governor, Olayemi Cardoso, and concerns have arisen due to the MPC’s previous failure to convene.

With inflation at 29.9%, there are expectations of decisions on banks’ capital requirements and liquidity ratios to address the economic challenges.

Experts foresee a potential interest rate hike, aiming to curb inflation, while some argue for maintaining the current rate and focusing on stabilizing the exchange rate.

Meristem Research analysts project a policy rate hike, considering global disinflation trends and measures taken by monetary authorities.

 

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