Dear All,
In its first meeting for the year concluded on 24th January 2023, the Monetary Policy Committee (MPC) raised the Monetary Policy Rate (MPR) by 100bps to 17.50% from 16.50% while holding other parameters constant, in line with our expectation. We note that all members of the Committee opted for a rate hike although at different magnitudes: 1 member voted 150bps, 7 members voted 100bps and 4 members voted 50bps.
