CBN Postpones MPC Meeting

The two-day Monetary Policy Committee (MPC) meeting earlier scheduled for Monday and Tuesday, 19th and 20th of November, has been postponed to Wednesday and Thursday, 21st and 22nd of same month.

The Director, Corporate Communications, CBN, Mr. Isaac Okorafor, who disclosed this in a statement on Saturday, attributed the development to the public holiday declared by the federal government to mark the Eid-El Maulud celebration.

“The November 2018 meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has been rescheduled from Monday and Tuesday, 19th & 20th November to Wednesday and Thursday, 21st and 22nd November, 2018, as a result of the declaration of Tuesday, 20th November, 2018, as a public holiday by the federal government.

“The CBN regrets any inconvenience this change may have caused its stakeholders and the general public,” the two-paragraph statement explained.

At its meeting in September 2018, the MPC had maintained the Monetary Policy Rate (MPR) at 14 per cent, with the asymmetric corridor at +200 and -500 basis points around the MPR; it also retained the cash reserve ratio (CRR) and liquidity ratio (LR) at 22.5 per cent and 30 per cent respectively.