The Central Bank of Nigeria (CBN) has scheduled its 297th Monetary Policy Committee (MPC) meeting for September 23 and 24, 2024, at its headquarters in Abuja.
This follows the last meeting held in July under the leadership of the central bank’s governor, Olayemi Cardoso, where the Monetary Policy Rate (MPR) was raised by 50 basis points to 26.75 per cent.
The increase aimed to combat inflation and create a favourable environment for foreign investments.
The upcoming meeting comes after a year of aggressive rate hikes totalling 800 basis points to address rising inflation, which eased slightly to 32.15 per cent in August due to improved food supply.
The CBN has reaffirmed its commitment to orthodox monetary policies aimed at further reducing inflation.
