Babatunji Wusu –
- The Central Bank of Nigeria (CBN) has rescheduled its 299th Monetary Policy Committee (MPC) meeting, moving it from February 17-18 to February 18-19, 2025.
- The change follows delays by the National Bureau of Statistics in releasing the rebased Consumer Price Index (CPI).
- Economic analysts are closely monitoring whether the MPC will adjust the Monetary Policy Rate in response to economic conditions.
- The first MPC meeting of 2025 was originally set for January but was postponed to February to accommodate the release of key economic data.
The Central Bank of Nigeria (CBN) has announced the rescheduling of its 299th Monetary Policy Committee (MPC) meeting, originally planned for February 17 and 18, 2025. The meeting will now take place on February 18 and 19, 2025, according to a statement released on Monday.
The decision to reschedule follows delays by the National Bureau of Statistics (NBS) in releasing the rebased Consumer Price Index (CPI), which led to speculation about the meeting dates. With the new dates now confirmed, analysts are closely watching to see if the MPC will maintain or raise the Monetary Policy Rate (MPR) in response to current economic conditions.
The first MPC meeting for 2025 was initially set for January 27–28 but was postponed to February to allow time for the release of the rebased inflation and GDP figures. This is not the first time under CBN Governor Olayemi Cardoso’s leadership that a meeting has been postponed. After his appointment in September 2023, the CBN also delayed an MPC meeting, sparking anticipation among investors and analysts regarding his approach to managing inflation.
Monetary policy decisions, including adjustments to the MPR, are influenced by inflation trends. The rebased CPI, which was expected to be released at the end of January, has yet to be made public, raising concerns about the timing of crucial economic data ahead of the MPC meeting. If the NBS adheres to its usual schedule, the inflation report may be released just three days before the rescheduled MPC meeting.