In the absence of an approved budget for 2019, the Central Bank of Nigeria (CBN), will today, lead the way with a policy decision that revolves around interest rate and sustenance of interventions for frailties of fiscal authorities.
The Monetary Policy Committee of the apex bank would come up with a decision in its first meeting of the year, reconvened since yesterday, with focus on the assessment of economic implications of the heated political environment, external shocks and sustained fragile recoveries in the past two months.
Other issues on the table are the constant decline in credit creation by banks, renewed inflation, long-standing high interest rate, volatility of crude oil prices and its implications on meeting government’s revenue projections as well as sustenance of foreign investment inflows, reserve accretion and exchange rate. Read more