The Central Bank of Nigeria (CBN) has scheduled its 308th Monetary Policy Committee (MPC) meeting for November 23 and 24, 2026, in Abuja. The apex bank disclosed the dates in a recently issued meeting notice, signaling the upcoming decision on the country's monetary stance.
Key decisions expected from the two-day session include the setting of Nigeria's benchmark interest rate and the introduction of specific measures to address persistent inflationary pressures. The MPC is responsible for formulating the central bank's monetary policy to maintain price stability and support economic growth.
Nigeria's overall inflation rate slowed to 14.63 percent in September, marking the fourth consecutive month of decline, according to data from the National Bureau of Statistics (NBS). Despite this downward trend in headline inflation, food prices remained a significant concern, with food inflation staying elevated at 19.59 percent.
The upcoming meeting follows the CBN's 307th MPC session held in September, during which the central bank reduced the benchmark interest rate to 23 percent. This represented a significant cut from the previous rate of 26.5 percent, reflecting the bank's response to the improving inflationary environment at that time.
Analysts and market participants will be closely watching the November session to determine if the CBN will continue its easing cycle or pause rate cuts in light of the remaining high food inflation figures. The decisions made in Abuja are expected to have a direct impact on borrowing costs and economic activity across the region.
<small>Source: Daily Post Nigeria — read the original story there.</small>
