The Central Bank of Nigeria (CBN) has announced a new date for the 299th meeting of its Monetary Policy Committee (MPC).
The meeting, earlier scheduled to hold from February 17 to 18, 2025, will now hold from February 18 to 19, 2025.
In a statement on Monday, the CBN said its decision puts to rest speculations surrounding the meeting date, which had emerged due to delays by the National Bureau of Statistics (NBS) in releasing the rebased Consumer Price Index (CPI).
“The Central Bank of Nigeria (CBN) has announced that the 299th meeting of its Monetary Policy Committee (MPC) earlier scheduled for February 17 and 18, 2025, will now be held on Wednesday, February 18 and Thursday, February 19, 2025.”
It noted that with a confirmed date now set, economic analysts and financial market stakeholders are turning their attention to the CBN’s next move on the Monetary Policy Rate (MPR).
The CBN had postponed its first MPC meeting for 2025, initially set for January 27 to 28, following delays in the release of the rebased CPI report by the NBS.
The NBS had in January, said the details of the newly rebased Gross Domestic Product (GDP) and CPI would be launched at the end of the month.
The rebased CPI is expected to provide a more accurate reflection of inflation trends by incorporating changes in consumer spending patterns. The last rebasing was conducted in 2009.
