CBN to hold Interest Rate Meeting April 3-4

Nigeria’s central bank plans to hold its next interest rate meeting April 3-4, a spokesman said on Monday, contingent on the upper house of parliament confirming the president’s nominees for the monetary policy committee (MPC).

“The new dates for the MPC are April 3 and 4,” the spokesman told Reuters by phone. “We are hoping that between now and then the members of the committee would have been confirmed by the Senate.”

A political spat over nominations for the MPC meant Nigeria’s Senate had not approved President Muhammadu Buhari’s candidates, leaving the committee unable to form a quorum to set interest rates. The Senate will consider a report into the nominations this week and could approve them, paving the way for the first rate-setting meeting this year.

myfinancialintelligence.com