2023-03-21 | MPD/DIR/INT/MPC/003/021

Central Bank of Nigeria Communique No. 147 of The Monetary Policy Committee Meeting Held on Monday 20th and Tuesday 21st March 2023

The Monetary Policy Committee of the Central Bank of Nigeria met to discuss monetary policy amid global economic headwinds, including bank failures and high inflation. The committee assessed risks to the global and Nigerian economies and decided to raise the Monetary Policy Rate by 50 basis points to 18.0%, while retaining other parameters. This decision aims to curb rising inflation and shield the economy from global shocks while maintaining financial system stability.

Nigeria

Central Bank of Nigeria

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