The Central Bank of Nigeria (CBN) is set to tighten further its monetary control in a renewed bid to moderate resurgent inflationary pressure.
The Monetary Policy Committee (MPC), the highest policy-making organ of the apex bank, begins a two-day meeting today with policy response to mounting inflationary pressure as the main agenda.
Analysts’ consensus and sources close to the apex bank were unanimous that the apex bank would increase the benchmark interest rate, the Monetary Policy Rate (MPR), in line with the bank’s avowed focus on curbing inflation and creating a stable investment environment.
