The Central Bank of Nigeria (CBN) has announced that the 301st meeting of the Monetary Policy Committee (MPC), the country’s apex decision-making body on interest rate policy, will be held on Monday, July 21, and Tuesday, July 22, 2025, at its headquarters in Abuja.
According to an official notice, the meeting will commence at 10:00 a.m. on July 21 in the MPC Meeting Room at the CBN headquarters. The two-day deliberation will culminate in an official announcement by CBN Governor Olayemi Cardoso, who will disclose the committee’s policy decisions on Tuesday, July 22.
This upcoming meeting comes amid growing expectations from financial analysts and investors seeking signals on Nigeria’s monetary direction, especially in light of global economic uncertainties and local inflationary trends.
Review of Last MPC Meeting
At the300th MPCmeeting held in May 2025, the CBN opted to maintain a conservative stance, keeping the Monetary Policy Rate (MPR) unchanged at 27.5%.
The decision underlines the Bank’s commitment to balancing price stability with gradual economic recovery.
Other key resolutions from the May meeting included:
- Asymmetric Corridor:Retained at +500/-100 basis points around the MPR
- Cash Reserve Ratio (CRR):Held at 50% for Deposit Money Banks and 16% for Merchant Banks
- Liquidity Ratio:Maintained at 30%
The vote was unanimous, with all 12 MPC members supporting the retention of existing rates, citing the need to monitor the effectiveness of current policies before making further adjustments.
“By maintaining current rates, the Bank is giving room for existing policies to yield results before implementing further changes,” the CBN had stated following the May session.
Policy Expectations and Market Outlook
Analysts suggest that the July meeting may lead to a policy shift, depending on recent macroeconomic indicators, including inflation levels, foreign exchange stability, and GDP growth forecasts.
The MPC’s decisions are closely watched for their impact on borrowing costs, investment flows, and Nigeria’s overall economic outlook.
Whether the Bank chooses to maintain, hike, or reduce rates will send critical signals to both local and international stakeholders.
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