Amidst a significant surge in inflation, the Central Bank of Nigeria (CBN) has once again deferred the meeting of its monetary policy committee, as reported by Bloomberg on Monday. Dr. Isa Abdulmumin, the CBN’s Director of Corporate Communications, confirmed the postponement, stating that the Monetary Policy Committee (MPC) would not convene this week, conveyed through a text message response.
Originally slated for discussions on Monday and Tuesday, this marks the second postponement of the meeting since Governor Olayemi Cardoso assumed office in September.
Investors and analysts anticipating the CBN’s strategy to address the escalating inflation, which soared to 27.33 per cent in October 2023, will now face an extended wait due to this latest deferment. The delay adds to the curiosity surrounding Governor Cardoso’s approach to navigating the ongoing economic challenges exacerbated by the inflationary pressures.