MPC to retain policy rates as analysts see further rise in inflation vanguardnews
he Monetary Policy Committee of the Central Bank of Nigeria meeting today is expected to retain its policy rates at current levels following the sharp increase in the inflation rate to 12.56 percent in June.
The National Bureau of Statistics , last weekend, released the Consumer Price Index report for June 2020 which shows that the annual inflation rate rose for the 10th consecutive month to 12.56 percent during the month, about 14 basis points from 12.4 percent in May.Thus, the annual inflation rate has risen by 132 basis points since it started rising from 11.24 percent in September last year.
Analysts however opined that the MPC will maintain the status quo at the end of its meeting today by retaining the MPR at 12.5 percent, Cash Reserve Ratio at 27.5 percent and the Liquidity Ratio at 30 percent.
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