MPC to Weigh Options Amidst Q3’2021 GDP Slow Growth and Decline in Inflation Figures

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As the last Monetary Policy Committee (MPC) meeting for the year 2021 scheduled to be held next week, November 22 and 23, where the eleven (11) members of the MPC committee will convene at the CBN headquarter to review and make critical decisions on the direction of key monetary policy variables for the next two months and going into 2022.

During the last MPC meeting held in September 2021, the committee members unanimously voted in favour of retaining the monetary policy parameters: – the MPR at 11.5% and the asymmetric corridor of +100/-700 basis points around the MPR; the CRR at 27.5%: the Liquidity Ratio at 30% so as to continue the management of the various intervention programmes deployed to help stimulate the economy into full recovery