CPPE speaks on interest rate hike, other MPC decisions
Nigeria, Feb. 28 -- The Centre for the Promotion of Private Enterprise (CPPE) said the outcome of the Monetary Policy Committee (MPC) meeting on Tuesday would hurt the real sector of the economy which is already contending with numerous macroeconomic challenges.
In a statement signed by Muda Yusuf, director of CPPE, the think tank said the increase of monetary policy rate (MPR) from 18.75 per cent to 22.5 per cent and cash reserve ratio (CRR) from 32.5 per cent to 45 per cent pose a major risk to the financial intermediation role of banks in the Nigerian economy.
"The outcome of the Monetary Policy Committee (MPC)s meeting of 27 February 2024 would hurt the real sector of the economy which is already contending with numerous macroeconom...
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