Central Bank Affirms Analyst Expectations – Mpc Makes No Changes - Business - Nairaland
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Naira Dramatically Recovers To N405/$1 After MPC Decisions / Update On MPC / Fear Over MPC Outcome Fuels Naira Appreciation (2) (3) (4)
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| Central Bank Affirms Analyst Expectations – Mpc Makes No Changes by Adesiji77: 5:35pm On Jan 20, 2015 |
The Monetary Policy Committee resolved to allow the measures taken at the November 2014 MPC meeting to crystallize before any action is taken. Hence, 11 members voted for a retention of the MPR at 13%, private CRR at 20%, public CRR at 75% and liquidity ratio at 30%. MPC's Considerations (A).Expressed satisfaction with Nigerian economic growth and the December 2014 inflation print (B). Also satisfied with the current pricing of the Naira vs Dollar (C). Risks 1. Worsening insurgency and its impact on farming activities and food supply 2. A sustained decline in crude oil price and its impact on reserve accretion 3. Reoccurring excess liquidity in the banking system 4. Normalization of monetary policy in the U.S which could lead to portfolio retrenchment in emerging markets, including Nigeria The detailed communiqué will be published later today http://www.proshareng.com/news/25673 |
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