Twice In A Row, CBN Postpones MPC Meeting

For the second consecutive time, the Central Bank of Nigeria (CBN) has postponed its crucial meeting to decide interest rates.

The Monetary Policy Committee (MPC) meeting which was earlier scheduled to take place on Monday and Tuesday has now been postponed to an unspecified date.

According to the MPC schedule published on the bank’s website, the last time the bank had such a meeting was on 25 July, about four months ago.

This week’s meeting would have been the first MPC meeting that would have taken place under the new CBN governor, Olayemi Cardoso, whose appointment was approved by the Senate in September 2023.

This means that Cardoso is yet to hold the critical monetary rates-setting meeting since he assumed office in September.

The CBN did not share a date for when the next MPC meeting will be held.

.Under the acting CBN governor, Folashodun Shonubi, the bank raised interest rates twice.