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Tag: MPC

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Excessive govt spending eroding effectiveness of monetary policy – MPC member

A member of the Central Bank of Nigeria’s Monetary Policy Committee, Murtala Sagagi, has pointed out that excessive government spending is a major obstacle to effective monetary policy in Nigeria. He emphasized that the failure to control fiscal expenditure undermines monetary policy efforts, making it challenging to achieve stability in inflation and exchange rates. Sagagi […]

News

Govt expenditure increased by 33% in February – MPC member

A member of the Monetary Policy Committee of the Central Bank of Nigeria, Bamidele Amoo has disclosed that the Federal Government’s expenditure increased by 33.5 per cent in February. This was disclosed in a statement by Amoo at the MPC meeting, held between March 25 and 26, 2024, stating the figure was more than what […]

IMF backs CBN on interest rate hike
Business

IMF backs CBN on interest rate hike

By Melvin Onwubuke The International Monetary Fund has supported the decision of the Monetary Policy Committee of the Central Bank of Nigeria to increase the benchmark borrowing rates by 400 basis points to 22.75 per cent from 18.75 per cent. At its February meeting, the MPC said that inflation and exchange rate pressures have been […]

Nigerian Exchange ahead in Africa with 33.70% gain
News

Nigerian Exchange ahead in Africa with 33.70% gain

By Melvin Onwubuke The Nigerian Exchange has emerged as the number one exchange in Africa in the first two months of 2024, as investors enjoyed 33.70 per cent returns on investors. This was revealed in a statement by the NGX on Tuesday that the local bourse was rated as the best-performing in Africa ahead of […]

Natural catastrophes, conflict pose danger to countries' financial stability - Cardoso
Economy

Senate probes CBN officials over N30tn loan

By Melvin Onwubuke   The Senate has announced that, it will question some officials of the Nigeria Central Bank on how N30tn Ways and Means Loan was acquired and utilized, by the Federal Government under President Muhammadu Buhari. This was disclosed by the chairman of the senate ad-hoc committee, senator Isah Jibrin in an exclusive […]

MPC to raise interest rates on Monday despite high inflation - Analysts
Business

MPC to raise interest rates on Monday despite high inflation – Analysts

Meristem Research analysts predict that the newly created Monetary Policy Committee would raise the Monetary Policy Rate during its meeting on Monday and Tuesday. According to BusinessDay, the experts stated in Meristem’s macroeconomics report that the MPC would be concentrating on discussing a~ number of topics, such as evaluating the disinflation patterns seen in developed […]

MPC to raise interest rates on Monday despite high inflation - Analysts
News

Analyst projects rate hike as MPC meeting holds Monday

By Melvin Onwubuke The Central Bank of Nigeria will on Monday and Tuesday hold the Monetary Council Policy meeting under Yemi Cardoso, with many analyst projecting an increase in the monetary policy rate. According BusinessDay, the CBN has made use of the Open Market Operations to control its monetary policy, in its bid to tackle […]

Senate approves Yuguda, Cardoso, others as MPC members
Appointments

Senate approves Yuguda, Cardoso, others as MPC members

The appointment of twelve individuals to the Central Bank of Nigeria’s Monetary Policy Committee has been approved by the Senate. According to Channels TV, this confirmation follows the discussion of a report by the CBN’s Committee on Banking, Insurance, and Other Financial Institutions Committee in plenary on Thursday. Days before the top bank’s first policy […]

Senate approves Yuguda, Cardoso, others as MPC members
News

Senate questions MPC nominees on inflation, forex crisis

The Senate questioned the nominees for the Central Bank of Nigeria’s Monetary Policy Committee on Wednesday, screening them and asking them about the ongoing food and foreign exchange issues. According to The Punch, the names of nominees to the CBN’s MPC were sent by President Bola Tinubu to the Senate last week for confirmation. Six […]

Business

CBN to host first MPC meeting under Yemi Cardoso

The Central Bank of Nigeria will hold its inaugural Monetary Policy Committee meeting on February 26th and 27th. Nairametrics reported that this is according to a preliminary MPC meeting calendar signed by the CBN’s Director of MPD. According to the document, the bank will host its second MPC meeting on March 25th and 26th, 2024. More […]

Equities market investors lose N481bn as glory trend continues
News

CBN postpones MPC meeting

Juliet Buna The Central Bank of Nigeria has postponed the Monetary Policy Committee meeting yet again after the same was done in September. According to Nairametrics, this development indicates that the new Governor of the CBN, Mr Olayemi Cardoso, has yet to hold the crucial rates-setting meeting since he took over the post. The central […]

MPC to raise interest rates on Monday despite high inflation - Analysts
featured

MPC to raise lending rate by 100bps – Report

There are signs that the Central Bank of Nigeria’s Monetary Policy Committee may raise its Monetary Policy Rate (interest rate) by 100 basis points this week. According to The Punch, the MPC is scheduled to meet on November 20 and 21, having postponed its September policy meeting due to the appointment of the new CBN governor. […]