The 294th meeting of the Monetary Policy Committee (MPC), the highest policy-making committee in Nigeria’s financial sphere with the power to review and effect changes to economic and financial conditions in the economy will begin on Monday, March 25, 2024, according to a statement by the apex bank via a post on its X handle.
Inflation rates and stability of exchange rate are expected to be the topics of discussion at the upcoming meeting.
The statement credited to CBN Governor, Olayemi Cardoso reads: “I wish to acknowledge the significance of presiding over the inaugural Monetary Policy Committee meeting as the Governor of the Central Bank of Nigeria amidst a backdrop of profound economic challenges: escalating inflationary pressures, sluggish economic growth, volatile exchange rates of the naira, and a rising cost of living.”
“The anticipation among Nigerians for this meeting to deliver viable solutions that will steer the economy towards sustainable growth and position Nigeria as an attractive investment destination is palpable.
“On a global scale, economic growth remains subdued while inflation, persistently exceeding the targets of most central banks, exhibits a gradual decline. Geopolitical conflicts continue to disrupt global supply chains, contributing to escalating debts reaching unprecedented levels.”
