Dear all,
The Monetary Policy Committee held its first meeting of the year on the 24th and 25th of January 2022, where it voted to keep all policy parameters unchanged. In reaching its decision, the Committee considered the weakening optimism surrounding global economic recovery mainly attributable to the rising inflationary pressures, emergence of new COVID-19 variants, supply chain bottlenecks and the commencement of rate normalization by some monetary policy committees globally. The Committee, however, noted that advanced economy has a stronger capacity to offset the headwinds relative to the emerging and developing economies due mainly to the better access to vaccines and better policy support.
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