Experts divided over interest rate hike ahead of MPC meeting

user_icon Experts divided over interest rate hike ahead of MPC meeting Posted by: NOTICE.COM.NG Staff
calendar-icon Experts divided over interest rate hike ahead of MPC meeting Posted on: 2023-01-23 08:31:50
Experts divided over interest rate hike ahead of MPC meeting 71D385CEBD41A3D0-55878



Ahead of the two-day Monetary Policy Committee meeting of the Central Bank of Nigeria commencing on Monday, financial experts have expressed uncertainties over possible interest rate hike.

As part of its event calendar for 2023, the CBN disclosed that it would hold its 289th meeting in Abuja.

Speaking on the prospective outcome of the MPC meeting, a professor of Capital Market and Chairman of Chartered Institute of Bankers of Nigeria, Abuja Branch, Prof Uche Uwaleke, explained that the Committee would likely keep all the monetary policy parameters.

DO YOU KNOW >>> Twitter announces plans to share Ad revenue in reply threads

He said, “Plethora of historical evidence suggests that the MPC rarely adjusts policy rates in January due to the need to allow the markets to stabilise in the New Year.

“Also, inflationary pressure is beginning to reduce, as seen in headline inflation numbers for December 2022.

“I do not advise a further hike in MPR, as doing so beyond the current high rate of 16.5 per cent can jeopardise economic growth.”

HILARIOUS >>> WATCH Comedy Video: Mr Macaroni - Her First Time

However, researchers at Cordros Securities expect a rate hike after the meeting.

In a report, the group of experts explained that MPC might toe the line of their global counterpart to introduce a small interest rate hike.

“Looking elsewhere, the prospect of global Central Banks embarking on smaller interest rate hikes could also influence the MPC’s decision to toe the same line concerning concerns about the domestic economy”, they stated.

BREAKING >>> May Edochie sues actress, Sarah over photoshopped photo with Judy Austin - Polygamy Saga


LISTEN TO >>> Music Mp3: Lojay - Moto

WATCH >>> Comedy Video: Mr Macaroni - Her First Time

READ ALSO >>> Uebert Angel Net Worth 2022

WATCH >>> Download Nollywood Movie: Selina Tested (Episode 28, Endgame B) FINAL

WATCH >>> Obi Cubana and E money Net Worth 2022s & Cars - Who is richer?

WATCH >>> Peter Obi Net Worth 2022, Biography, Cars And Houses


For All Nigeria Past Questions Visit www.QUESTION.NG

Kindly share this post on different Social Media below


Tags:


COMMENTS

NOTE: User comments in this section are, as the name implies, provided by users of this website. The question.ng team is not responsible for, nor do they endorse, any of the information provided here.


NO POSTED COMMENT