Economics
Revamped Nigerian MPC May Make the Same Rates Call as Before
- Central bank has kept rate at a record 14% since July 2016
- Inflation at 14.3% in February remains above target range
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Nigeria’s Monetary Policy Committee will probably leave interest rates unchanged at its first meeting of the year even though the panel has added five new members since its previous gathering in November.
Inflation has been outside the central bank’s target band of 6 percent to 9 percent for more than two years and exceeds the monetary-policy rate. While easing could boost expansion in West Africa’s largest economy, which contracted in 2016, only two of the 11 economists in a Bloomberg survey said the committee will cut the benchmark interest rate from 14 percent on Tuesday.