Modupe Gbadeyanka
By Modupe Gbadeyanka
The 278th meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will take place next week.
This information was revealed by the apex bank via a circular issued on Monday evening.
The central bank disclosed that the gathering, the second in 2021, will precisely hold on Monday, March 22, 2021, at 10.00am and Tuesday, March 23, 2021, at 8.00am.
Later in the afternoon of the second day of the meeting, the Governor of the CBN, Mr Godwin Emefiele, will have a chat with journalists to inform them of the outcome of the MPC meeting.
The circular released yesterday said members of the committee would meet to have the usual discussions at the MPC Meeting Room located on the 11th Floor of the CBN headquarters in Abuja.
The group normally meets to review the monetary and macro environments and take actions to shape the space and also give the fiscal authorities suggestions.
At the last MPC meeting, the benchmark interest rate was left at 11.5 per cent, the Cash Reserve Ratio (CRR) was retained at 27.50 per cent, the liquidity ratio was left at 30 per cent, while the asymmetric window was kept at +100 and -700 basis points around the MPR.
