In the first quarter of the year, the Monetary Policy Committee held two meetings (24th-25th of January and 21st-22nd of March 2022), where it voted to keep all policy parameters unchanged. The Committee’s decision to retain rates highlights its commitment to sustain economic growth amidst heightened inflationary pressures.
The Monetary Policy Committee is scheduled to meet again in the second quarter of the year (23rd-24th of May 2022). We expect the rising inflationary pressures on the global scene, the impact of the Russian-Ukraine crisis on global output, Nigeria’s sustained economic growth, spiraling inflation in the domestic space as well as developments in the financial markets to feature in the Committee’s discourse.
