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CBN Postpones MPC Meeting to November 21

By Dipo Olowookere

The Central Bank of Nigeria (CBN) has shifted the dates for its last Monetary Policy Committee (MPC) meeting for 2018 to another period.

The crucial meeting was supposed to commence on Monday, November 19, and end on Tuesday, November 20, 2018.

However, as a result of the public holiday declared by the federal government for Tuesday, November 20, the apex bank has now postponed the gathering.

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According to a statement issued on Saturday by its spokesman, Mr Isaac Okorafor, the central bank said the MPC meeting will now take place on Wednesday, November 21 and end on Thursday, November 22, 2018.

“The November 2018 meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has been rescheduled from Monday and Tuesday, 19th & 20th November to Wednesday and Thursday, 21st and 22nd November, 2018, as a result of the declaration of Tuesday, 20th November, 2018, as a public holiday by the Federal Government.

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“The CBN regrets any inconvenience this change may have caused its stakeholders and the general public,” Mr Okorafor said in the statement.

During the MPC meeting, observers will be watching if the central bank will want to adjust the benchmark interest rate this time from 14 percent, especially with the rising inflation rate in the country.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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