The Digest:
The Central Bank of Nigeria (CBN) has set the dates for the 301st Monetary Policy Committee (MPC) meeting on July 21-22, 2025. The meeting will focus on critical decisions regarding the country’s interest rate. This comes after the MPC’s last decision to maintain the policy rate at 27.50%.
Key Points:
- The MPC meeting will be held at the CBN headquarters in Abuja.
- Last May, the MPC kept the benchmark interest rate at 27.50%.
- The decision reflected cautious optimism due to improving macroeconomic indicators.
- Members noted narrowing exchange rate gaps and falling PMS prices as positive signs.
- Analysts predict that the MPC will maintain its stance due to ongoing external risks.
- Risks include food supply shocks from insecurity and flooding.
- There is uncertainty over Nigeria's rebased GDP figures for Q1 2025.
- The MPC cautioned that reducing rates prematurely might destabilize the naira.
As inflationary pressures remain, the CBN’s MPC will continue monitoring the economy carefully before any potential policy adjustments. The meeting will further clarify the bank's approach to maintaining financial stability.
Sources: Businessday.ng, Afrinvest Securities, CBN Official Announcements
