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Tuesday, July 21, 2020 / 07:27
PM / by FDC / Header Image Credit: FDC Ltd
The MPC kept interest rates and parameters unchanged at its one-day meeting yesterday. The outcome was no surprise
as the options were limited and actions predictable.
The Nigerian apex bank is grappling with how to evolve an orderly exchange rate adjustment mechanism for
a currency market that is highly segmented and fast becoming a speculators
paradise. It has also been able to
persuade banks to increase total credit to the economy by 21.47% to N18.9trn.
The CBN was more candid about the economic recovery
prospects this time. It accepts that a U-shaped recovery is more likely
and that 2020 will be a negative growth year.
In the slides and clip below, Bismarck Rewane discusses the MPC outcome on Channels
TV news at 10 pm segment.
What This Means
What to Expect in Q3?
Watch Video
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