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Nigerian Central Bank Scraps Rate Meeting Even as Naira Plunges
Posted
November 21, 2023
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0:55Now PlayingNigeria’s central bank scrapped a meeting of its monetary policy committee for a second time since Governor Olayemi Cardoso was nominated to the post in September, raising concerns about attempts to bolster the nation’s currency that’s plunged about 42% this year and is fueling inflation.
A calendar of MPC meetings published on the central bank’s website had scheduled the next gathering for Monday and Tuesday. The “MPC is not holding” a meeting this week, Isa Abdulmumin, the spokesman for the bank, said by text message on Monday. He didn’t give a date for when it would be held.
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