MON MAY 20 2024-theGBJournal|Analysts are projecting a 100 basis points increase in the MPR with other parameters expected remain constant, as the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) begins its third meeting of the year today.
The continued monetary tightening is anticipated given the upside risks to inflation which remain potent given the renewed pressure in the FX market and the potential review of the minimum wage, which was announced by the Federal Government to be implemented in May.
Besides, the elongated war in the Middle East which remains potential risks to price stability as well as the elevated interest rates in the global economy, are factors which analysts say could also influence the MPC decision.
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