2023-03-01 | MPD/DIR/INT/MPC/002/164

Central Bank of Nigeria Communique No. 146 of the 289th Monetary Policy Committee Meeting Held on Monday 23rd and Tuesday 24th January 2023 and Personal Statements of Members

The Central Bank of Nigeria's Monetary Policy Committee met in January 2023 to discuss the state of the economy and set monetary policy for the upcoming months. The global economy is facing challenges due to the war in Ukraine, rising inflation, and energy market disruptions. In Nigeria, the economy has seen positive growth for eight consecutive quarters, but inflation remains a concern. The committee decided to raise the Monetary Policy Rate by 100 basis points to 17.5%, while retaining other monetary parameters. This decision aims to curb inflation and support economic growth.

Nigeria

Central Bank of Nigeria

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