Members of the Central Bank of Nigeria’s Monetary Policy Committee (MPC) remain unconvinced about starting an easing cycle, even as inflation slowed for the fifth straight month in August to 20.12 percent.
This position was made prior to the release of the inflation report for July and August, which showed continued easing. The 12-member monetary authorities maintained that a sustained policy stance was necessary to further tame inflation and ensure price stability - even as market bets on a token rate cut when the MPC meets next Monday and
