Macroeconomic Report & Economic Updates

Nigeria Econnomic Update (Issue 13)

The Monetary Policy Committee (MPC) has voted to retain the monetary policy rate (MPR) at 11.5%1. Other parameters remain unchanged; for instance, the cash reserve ratio (CRR) was maintained at 27.5% while liquidity ratio remains at 30%. The committee’s decision to take a holding position is expected to be supplemented by various ongoing government intervention programmes. These programs are intended to facilitate employment generation and stimulate recovery/growth in various sectors of the economy post-pandemic. While this decision might be suitable for now, it is important for the MPC to closely monitor the evolving economic situation in the country, especially in view of rising inflation rate and foreign exchange fluctuations which have an impact on the value of the Naira. Close monitoring and a proactive approach, will ensure that the measures put in place yield the desired outcome of stimulating growth.

Download Label
March 13, 2018 - 4:00 am
412.66 kB
v.1.7 (stable)