· MPC held monetary policy rate unchanged at 14.0% amid inflation and global economic uncertainties.
· The decision was driven by fairly balanced concerns between the inflation and growth outlook.
· While the economy remains in recession, the structural factors driving the sustained pressure on prices, such as the high cost of power and energy, transports, as well as rising prices of imports are yet to abate.
· Monetary policy appears set to remain relatively unchanged in the months ahead, assuming no significant change to key indicators.
· Over all, the short end of the curve will remain attractive as concerns over the outlook for NGN and inflation continue to be influenced by CBN’s monetary policy in the short term.