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MPC set to address economic challenges

The Monetary Policy Committee (MPC) of     the CBN is set to look into the challenges of Nigerian economy against developments in the international economic and financial environments for 2010.

This is contained in a communique issued by CBN Governor Sanusi Lamido Sanusi and made available to the News Agency of Nigeria on Tuesday in Abuja.
The communique noted that developed countries that were most adversely affected by the severe economic and financial crises had started showing signs of recovery on the international economic scene.

It stated: “The apparent rebound in global economic activity was being driven mainly by rising manufacturing activity, recovering housing markets and the restoration of consumer confidence.

Although central banks around the world have undertaken large interest rate cuts and measures to inject liquidity into their economies.
“The risks still remain that the current rebound may be sluggish and that the global economy would remain credit-constrained in the near-to-medium-term as financial institutions continue to maintain their cautious approach to credit extension.’’


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