Good Morning Nigeria: Will they or won’t they in Abuja?
​Will they or won’t they in Abuja?
The next meeting of the monetary policy committee (MPC) takes place in Abuja on Monday and Tuesday. Judging by the intensity of the media commentary, we could be forgiven for thinking that its only decision is whether to adjust its exchange-rate policy. The depletion of official reserves, the slide in the oil price and the intermittent global market turmoil emanating from China and elsewhere could make a good case for devaluation. We are not so sure. The preference of the CBN and the MPC is to deploy administrative measures.
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