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In the face of economic and financial challenges, members of the rate-fixing arm of the Central Bank of Nigeria (CBN), the Monetary Policy Committee (MPC), will face tough choices in the next two days as the sustained inflationary pressure remains a major challenge for the apex bank.
It will be the second interest rate hike in two months if the most likely choice scales the voting hurdle as the Committee begins its 286th meeting.
The committee is boxed in between expressing its independence or jumping on the bandwagon of hawks, who are throwing everything into the ring to tame surging inflation.
The stakes are indeed high. Growth is flattening or falling, heightening fear of the worst stagflation in recent years. In the first quarter, the economy grew at…
Source: Guardian Newspaper