Financial analysts are divided over the decision of the Central Bank of Nigeria’s Monetary Policy Committee’s decision to retain key lending rates after its two-day meeting that ended on Tuesday. Some analysts said the development meant tougher days ahead for Nigerians and companies, while others said the MPC had no choice but to leave the key rates unchanged. Analysts had last week predicted that might tighten monetary policy during its first meeting in this year. The committee however left the key policy rates unchanged. The Governor, CBN, Godwin Emefiele, on Tuesday announced that the MPC decided to leave unchanged the Monetary Policy Rate at 11.5 per cent alongside other parameters. Emefiele, who disclosed this at a briefing after the MPC meeting in Abuja, said that while determining whether to loosen or tighten the policy stance, the MPC was mindful that some advanced economies had signaled intentions to increase their rates. He said the major focus of the developed economies was affecting inflation. According to him, the MPC believes that its current stance of price and monetary stability is conducive for growth.

Punch