The Central Bank of Nigeria (CBN) has officially rescheduled its 299th Monetary Policy Committee (MPC) meeting. Initially set for February 17 and 18, 2025, the meeting will now take place on Wednesday, February 18, and Thursday, February 19, 2025.
This change comes amid ongoing discussions about Nigeria’s economic outlook and the delayed release of the rebased Consumer Price Index (CPI) by the National Bureau of Statistics (NBS). Analysts had speculated about a possible shift in the meeting date due to the unavailability of critical economic data, but with the new schedule confirmed, attention now turns to the decisions that will emerge from the gathering.
The MPC meeting is crucial as it determines key monetary policies that affect inflation, interest rates, and overall economic stability. Investors, businesses, and financial experts are keen to see whether the committee will maintain the current Monetary Policy Rate (MPR) or introduce changes in response to ongoing economic trends.
Nigeria’s inflation rate has remained a significant concern, influencing the CBN’s policy direction. In recent months, rising food prices, currency fluctuations, and global economic factors have impacted inflation, prompting debates on whether the central bank should tighten monetary policy further. A hike in the MPR could help control inflation but might also lead to higher borrowing costs for businesses and consumers.
