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Access Bank Releases Outlook On MPC Meeting

One of Nigeria’s tier-one listed commercial lender, Access Bank has released its outlook on the two-day monetary policy meeting of the Central Bank. The bank … Continue reading Access Bank Releases Outlook On MPC Meeting


Access Bank

Access BankOne of Nigeria’s tier-one listed commercial lender, Access Bank has released its outlook on the two-day monetary policy meeting of the Central Bank.

The bank expects the committee to retain the headline interest rate at 11% and leave the lending corridor of plus 200 basis points and minus 700 basis points unchanged.

Analysts at Access Bank believe the financial regulator will continue to tolerate above 9% inflation target in a bid to keep monetary conditions relatively loose in support of the economy.

Access Bank sees the cash reserve ratio and liquidity ratio left unchanged and anticipates no change in the foreign exchange policy position of the Central Bank.

The 249th meeting of the Monetary Policy Committee kicks off on Monday in Abuja, the nation’s capital.

Economic and financial analysts believe the volatility of the Naira at the foreign exchange market and the double-digit inflation recorded in February would top the agenda at the two-day meeting.

At the last meeting in January, the MPC maintained the monetary policy rate, the cash reserve requirement, and the liquidity ratio at 11%, 20%, and 30% respectively.

The outcome of the meeting will be announced on Tuesday, March 22,2016.