MPC: Experts split on CBN’s interest rate move
Felicia Awolope, an economist and investment researcher at Meristem Securities Limited, expects the Central Bank of Nigeria (CBN) to retain the benchmark interest rate at its next Monetary Policy Committee (MPC) meeting, citing the recent uptick in inflation driven by geopolitical tensions in the Middle East.“The moderate pace of the recent inflation uptick affords the monetary authority room to pause, while the need to maintain attractive rates amid a potentially higher-for-longer global interest rate environment and persistent price uncertainty reinforces this stance,” she said.
She added that the committee is also unlikely to raise the Monetary Policy Rate (MPR), arguing that current pressures are not expected to push inflation significantly higher in the near term.
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