Grapevine

By Punch
Jul 24, 2024

OPS projects worsening crisis as MPC hikes interest rate again

The decision was made at the 296th Monetary Policy Committee meeting held on July 22 and 23, 2024.

CBN Governor, Olayemi Cardoso, explained that the committee was mindful of the effects of rising prices of items on households and businesses and expressed the bank’s resolve to take necessary measures to bring inflation under control.

He noted that despite the June 2024 uptick in headline inflation, prices are expected to moderate in the near term.

The governor attributed the persistence of food inflation to the prevailing insecurity in food-producing areas and high transportation costs.

He emphasised the need to address these challenges to ensure sustainable food supply and moderate food prices.

Newsletter

OPS projects worsening crisis as MPC hikes interest rate again

Who Won the U.S. Presidential Debate?

World first medical procedure to heal 800 kg rhin…

Can captive tigers be part of the effort to save …

Simulated construction of plant-based fish meat w…

Who Won the U.S. Presidential Debate?

OPS projects worsening crisis as MPC hikes interest rate again

Subscribe to our mailing list to get the new updates!

Who Won the U.S. Presidential Debate?

Subscribe to our mailing list to get the new updates!