CBN Announces Schedule For 294th MPC Meeting

Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has announced that the 294th meeting of the Monetary Policy Committee (MPC) will be held on Monday, March 25, 2024.

The apex bank announced this information on its official X handle on Tuesday.

The event will take place at the CBN headquarters in Abuja, with the second day scheduled for Tuesday, March 26, 2024.

As the bank’s highest policy-making committee, the MPC is responsible for assessing the country’s economic and financial conditions.

The MPC also determines the appropriate policy stance for the short to medium term and regularly reviews the CBN’s monetary policy framework, making necessary adjustments when required.

At the upcoming meeting, the apex bank is expected to analyze recent economic indicators, inflation rates, and the stability of the exchange rate.

The announcement on the CBN X handle reads: “Notice of the 294th Meeting of the Monetary Policy Committee (MPC).

“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 CBN governor Olayemi Cardoso said about the meeting.

“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.”

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