CBN Begins MPC Meeting Today

By Modupe Gbadeyanka

The Central Bank of Nigeria (CBN) will today, Monday, September 25, 2017 commence its Monetary Policy Committee (MPC) meeting.

The MPC meeting continues of Tuesday and would be held at the MPC Meeting Room, 11th Floor, Wing C, CBN Corporate Headquarters, Abuja.

The two-day event is held to review various policies affecting the economy and at the ened of the meeting, the CBN Governor, Mr Godwin Emefiele, will announce if the interest rate was cut or maintained.

At the moment, the rate stands at 14 percent and many are not expecting the committee to tamper with it at the moment.

Last week, analysts at FSDH Research warned that any attempt by the MPC to cut rate at its meeting tomorrow will lead to a negative real yield, with a possible significant capital flight from Nigeria by foreign investors.

This meeting is coming after the National Bureau of Statistics (NBS) announced earlier this month that Nigeria exited recession in the second quarter of 2017 with a 0.55 percent growth in its Gross Domestic Product (GDP) during the period under review.