The postponement of the MPC meeting for the second consecutive time could be a blessing in disguise, Professor Uche Uwaleke said.
The Central Bank of Nigeria had on Monday announced the indefinite postponement of the Monetary Policy Committee meeting.
The meeting, early scheduled for Monday and Tuesday, November 20 and 21, has again been postponed for the second time since Dr. Olayemi Cardoso became the governor of the apex court in September.
The CBN’s Director of Corporate Communications, Dr Isa Abdulmumin, who gave this hint in a text message, confirmed that “MPC is not holding”.
However, in a chat with NIGERIAN ANCHOR, Uwaleke, who is a Professor of the Capital Market at the Nasarawa State University Keffi, noted that had the MPC had held in September, it most likely would have jerked up the MPR thereby further increasing the cost of doing business and reducing access to credit.
“This would have been the outcome of the meeting against the backdrop of the pressure by the IMF for an MPR hike to reduce money supply which would not have had any significant impact on the rising inflation,” he said.
