CBN Reschedules Monetary Policy Committee Meeting for February 18-19

The Central Bank of Nigeria (CBN) has announced a new date for the 299th Monetary Policy Committee (MPC) meeting, which was initially scheduled for February 17-18, 2025.

The meeting will now take place on February 18-19, 2025, putting an end to speculations surrounding the meeting date.

The delay was caused by the National Bureau of Statistics’ (NBS) failure to release the rebased Consumer Price Index (CPI) on time.

The NBS typically releases its CPI report on the 15th of every month, which means the inflation report could be published just three days before the newly scheduled MPC meeting.

Economic analysts are eagerly awaiting the MPC meeting to see if the committee will retain or increase the Monetary Policy Rate (MPR) in response to prevailing economic conditions.

The CBN’s decision will have significant implications for Nigeria’s economic outlook, influencing decisions on interest rates, inflation control, and broader macroeconomic stability.

The MPC meeting was initially set for January 27-28 but was moved to February to allow time for the rebased inflation and GDP figures to be released.

This is not the first time the CBN has postponed an MPC meeting — in September 2023, the bank postponed the meeting to allow the new leadership to tackle surging inflation.