• Experts expect another 25 to 50 basis point hike
• Urges monetary, fiscal authorities to look beyond book theories
• Inflation intensity, negative interest yields to top consideration
With the headline inflation heading up again after a short-lived breather ahead of Christmas spending as well as the renewed pressure on the naira, the Monetary Policy Committee (MPC) appears set to announce another interest rate hike when it wraps up its meeting tomorrow.
The meeting takes off today in Abuja with sufficient grounds for an interest rate increase. At 33.88 per cent, the inflation rate is only 0.3 percentage points behind its three-decade high with September and October consumer price index (CPI) readings suggesting the panic is far from over.
The month-on-month CPI growth last month was the highest since March, also pointing to a spike in the intensity of the inflation…
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