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20 Sep 2011The Monetary Policy Committee (MPC) of the CBN met on the 19th of September 2011 to review the current domestic and international economic and financial developments, including challenges facing the Nigerian economy in the near term. At the conclusion of the meeting, the MPC raised the benchmark rate by 50bps to 9.25% and maintained the CRR at 4.0%.
Here is an excerpts from the meeting communique:
The Monetary Policy Committee of the Central Bank of Nigeria held their regular meeting on November 22nd and 23rd. The key decisions were:
1. To Retain the Monetary policy Rate (MPR) at 6.25 per cent.
2. To adjust the corridor to +/- 200 basis points, implying Standing Lending Facility (SLF) rate of 8.25 per cent, and Standing Deposit Facility (SDF) rate of 4.25 per cent.
3. Maintain the policy stance of a stable exchange rate.
4. Continue to monitor inflationary trends with a view to taking appropriate steps as and when necessary.
5. On the stance of monetary policy in the year ahead, the Committee reaffirmed that monetary policy would seek to exert pressure on aggregate demand, thereby helping to lower inflation expectations.
The report is below:
Here is the communique from the MPC meeting held on Nov 4th 2009:
CBN Communiqué No. 66 of MPC Meeting - Nov 4th (158)Here is the communique for the September 1st 2009 meeting of the Monetary Policy Committee from the CBN. The summary is:
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