CBN to decide interest rate policy rate
The Central Bank of Nigeria (CBN) has revealed that its 301st Monetary Policy Committee (MPC) meeting will take place on Monday, July 21, and Tuesday, July 22, 2025.
According to a statement obtained from the CBN via its website, the meeting will be held at its MPC Meeting room, CBN head office, Abuja.
The apex bank MPC meeting is an avenue for committee members to make decisions on key interest rates.
In May 2025, during its last meeting, the MPC voted to retain the 27.50 percent benchmark policy rate. This decision demonstrated a careful sense of optimism in light of strengthening macroeconomic indicators.
The Committee observed that the smaller difference between official and black market exchange rates, lower petrol prices, and a good trade balance were signs that inflation might start to go down.
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The Committee Members agreed that the foreign exchange market was fairly stable and they stressed the need to continue current money policies to keep building trust in the market.
At the May meeting, the MPC warned that inflation could still rise again, so they believed keeping interest rates high was important to reduce that risk.
The members also worried that cutting rates too soon could weaken the naira, especially since the current strength of the exchange rate is helped by the high returns from OMO bills.
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Experts in the industry believe that the MPC will keep its current policies, even though inflation is slowing down and the foreign exchange market is stable.
Some gave reasons like ongoing risks from outside the country, food shortages caused by recent insecurity and floods, and the delay in releasing Nigeria’s updated GDP figures for the first quarter of 2025.