Cancelled MPC meeting unsound for economy – LCCI

The Lagos Chambers of Commerce and Industry (LCCI) has expressed concerned over the cancellation of scheduled Monetary Policy Committee meeting (MPC), saying that the action potent danger for the nation’s economy.
Speaking in Lagos on the economy and state of nation on Wednesday, its President, Babatunde Ruwase, said the failure of MPC to meet as schedule has adverse implications for stakeholders in the financial sector and the economy in general. 
The Central Bank of Nigeria (CBN) had suspended its first Monetary Policy Committee (MPC) meeting earlier scheduled for January 22 to 23, 2018 due to the bank’s inability to form a quorum as a result of non-confirmation of the newly appointed MPC members by the Senate.  
The MPC has the mandate to review economic and financial conditions in the economy, determine appropriate stance of policy in the short to medium term, review regularly, the CBN monetary policy framework and adopt changes when necessary. 
Rusewe called on the Presidency and the Senate to speedily resolve their differences in the interest of recovery and growth of our economy. 

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