AGS NEWS – The Central Bank of Nigeria has announced its 294th Monetary Policy Committee (MPC) meeting, a pivotal event that shapes the nation’s economic strategies.

This announcement was made via a document uploaded to the bank’s website on Tuesday.

Scheduled for Monday, March 25, and Tuesday, March 26, 2024, at the bank’s headquarters in Abuja, the two-day gathering will review recent economic indicators, inflation rates, and exchange rate stability.

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In a statement signed by CBN Governor Olayemi Cardoso, the governor acknowledged the challenges facing Nigeria’s economy, including escalating inflation, sluggish growth, volatile exchange rates, and rising living costs.

There’s considerable anticipation among Nigerians for the meeting to propose solutions that foster sustainable economic growth and position Nigeria as an attractive investment hub.

Internationally, economic growth remains subdued, with persistently high inflation and geopolitical conflicts disrupting global supply chains.

Nigeria experienced a surge in inflation to 29.9% in January 2024, driven by currency depreciation and foreign currency liquidity shortages.

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Market analysts expect a cautious approach from the MPC, balancing economic growth and price stability.

The committee’s decisions significantly influence market dynamics, with investors and financial institutions closely monitoring them.