CBN shifts MPC assembly to February 18, 19

The Central Bank of Nigeria has rescheduled the 299th Financial Coverage Committee assembly earlier slated for February 17 and 18, 2025.

In an announcement on Monday, the apex financial institution stated the assembly will now be held on February 18 and 19, 2025.

The assertion learn, “The Central Bank of Nigeria has introduced that the 299th assembly of its Financial Coverage Committee earlier scheduled for February 17 and 18, 2025, will now be held on Wednesday, February 18 and Thursday, February 19, 2025.”

The event ends speculations over the assembly dates, which arose attributable to delays by the Nationwide Bureau of Statistics in releasing the rebased Client Worth Index.

With a brand new date confirmed, the assertion famous that financial analysts are keenly watching to see if the committee will retain or enhance the Financial Coverage Charge in response to prevailing financial circumstances.

The PidomNigeria additional noticed that the primary MPC assembly for 2025 was initially set for January 27–28 however was moved to February, reportedly to permit time for the rebased inflation and GDP figures to be launched.

This could not be the primary time the CBN postponed its MPC assembly below the management of Olayemi Cardoso.

After he was newly appointed in September 2023, the CBN postponed a gathering of its MPC once more as traders and analysts look ahead to the transfer by Cardoso in tackling surging inflation.

The CBN held its first MPC assembly of 2024 on February 26 and 27, which was additionally the primary below Cardoso’s management.

Financial coverage choices rely closely on inflation tendencies; nonetheless, the rebased CPI, which was anticipated on the finish of January, has but to be printed by the NBS, elevating issues concerning the timing of key financial indicators forward of the MPC assembly.

The NBS usually releases its CPI report on the fifteenth of each month. If the company maintains this custom, the inflation report might be printed three days earlier than the newly scheduled MPC assembly.