MPC: Experts predict CBN’s monetary policy decision

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At its last meeting, the CBN raised the MPR by 200 basis points, from 22.75 per cent to 24.75 per cent, in response to rising inflation. It’s essential to acknowledge that news production incurs expenses, and we take pride in never placing our stories behind a prohibitive paywall.“I think that they will raise the rate by another 100 basis points given the position of the inflation rate,” he said.

“The highest price is to stabilise the Nigerian FX market and boost confidence in the naira while buying some time for the fiscal side,” he said. “That simply tells us that we are we’re adopting a wrong approach to combating inflation. So responding to new inflation by increasing rate is what we have done since Emefiele till date. So why do we keep doing the same thing and expect different results? It’s a sign of insanity.”

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