Monetary Policy Committee Meeting Update – July 2024 | Tapping the Breaks
Following the 296th CBN Monetary Policy Committee (MPC) meeting held on the 22nd and 23rd of July 2024, the committee decided to extend their restrictive monetary policy measures for the fourth (4th) consecutive meeting this year. These measures reflect the committee’s ongoing efforts to manage inflation and stabilize the economy. Notably, this is the slowest […]
Post MPC Meeting Report May 2024- MPC Maintains Tightening
The Central Bank of Nigeria (CBN) maintained its hawkish stance at its 295th Monetary Policy Committee (MPC) meeting on May 20th-21st, 2024. The Monetary Policy Rate (MPR) was tightened further by 150bps to 26.25%. This decision is a strong signal of the apex bank’s commitment to curbing inflation and addressing FX pressures through contractionary monetary […]
Post Monetary Policy Committee Meeting March 2024 – CBN Maintains Hawkish Stance
Post Monetary Policy Committee Meeting March The second (2nd) Monetary Policy Committee (MPC) meeting in 2024 held on the 25th and 26th of March. The committee reviewed recent economic and financial developments as well as assessed risks to the outlook. Following its deliberation, the committee decided to tighten the MPR by 200bps to 24.75% from […]
News Update | CBN Holds a Foreign Portfolio Investment Call
CBN Holds a Foreign Portfolio Investment (FPI) Call Yesterday, the Central Bank of Nigeria (CBN) hosted a Foreign Portfolio Investor (FPI) call, and notable points pertaining to monetary policy focus in attracting increased foreign investment and promoting a conducive investment landscape were discussed. These talking points are summarized below: The CBN confirmed plans to increase […]
Post Monetary Policy Committee Meeting February 2024 – MPC Takes a More Aggressive Stance Against Inflation
Post Monetary Policy Committee Meeting February The first (1st) Monetary Policy Committee (MPC) meeting chaired by the new Central Bank of Nigeria (CBN) Governor, Dr. Yemi Cardoso, was held on the 26th and 27th of February 2024. At the meeting, monetary policy tools were aggressively tightened to rein in inflation and curb excess money supply. […]
Monetary Policy: MPC Springs a dovish surprise
MPC Springs a dovish surprise The CBN Monetary Policy Committee (MPC) voted to cut the key benchmark interest rate by 50bps to 13.5%, taking the Standing Lending Facility and standing deposit facility to 15.5% and 8.5% respectively. The decision was surprising in that ARM Research and most analysts surveyed by Bloomberg anticipated no change in […]
