The Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN) is set to meet today and tomorrow to set the monetary direction of the economy.
Analysts are of the opinion that the MPR rate should be revised downward from its current level of 12 per cent to stimulate economic activities at both the small and medium scale level, thereby leading to improved growth.
Some of the key factors to be considered by the monetary authorities are the slowing global economy, weak economic growth in some quarters, the looming fiscal cliff in the US and the macroeconomic conditions here in the country.
