Expectations high as MPC begins 268th meeting today Expert wants MPC to reduce interest rate amid inflation decline
Motolani Oseni, Lagos Expectations are high as the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) begins the 268th meeting of the committee scheduled to hold from today, Monday, July 22 to Tuesday, July 23, 2019. This is even as a financial expert has urged the MPC to reduce the Monetary Policy Rate (MPR) by 50 basis points. The MPC had at its last meeting warned the Deposit Money Banks (DMBs) against
investing money in Federal Government Bonds (FG Bonds) and Treasury Bills (TBs) instead of giving it to the private sector as credit. This, the MPC said, was part of its effort to trigger growth in the economy, lower inflation pressure, given the recent data of April inflation (11.37% as against March figure of 11.25%). Speaking at the end of the two-day meeting, the CBN Governor, Godwin Emefiele, who presided over the bimonthly meeting in Abuja, said that Continued on page 3
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