The rising inflation, economic recession and the implementation of the flexible exchange rate policy may likely dominate discussions at the 251st Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN), starting today Monday 25, 2016 in Abuja.
Experts are hopeful that the meeting would be proffering some solutions on the disturbing indices in the economy. The MPC had at its meeting in May retained the MPR at 12 per cent with the asymmetric corridor at +200 basis points and -700 basis points and also left the cash reserve requirement (CRR) and liquidity ratio (LR) unchanged at 22.50 per cent and 30 respectively.
The economy is officially in a technical recession says Finance Minister Mrs. Kemi Adeosun. Though economic watchers since May, 2016 had said Nigeria economy was already in a recession, the signs for a full blown inflation are showing and becoming more visible by the day as the economy shrinks further.