CBN may retain rates to grow economy out of recession –


The Central Bank of Nigeria (CBN), going into its fourth Monetary Policy Committee meeting this year on July 25 to 26, may need to be cautious of the impact of its decision on the stagnating economy, according to analysts and experts.

Though there are divergent views on whether the monetary regulator should increase or retain rates, there appears to be a consensus that the CBN should retain or hold rates to encourage the real sector grow the economy out of recession.

Prior to Kemi Adeosun, Finance Minister’s declaration that the economy is technically in recession, most analysts were rooting for a hike in monetary policy rate to attract foreign portfolio inflows.