By Ade Oyeyemi
The Central Bank of Nigeria has scheduled November 23 and 24, 2026, for its 308th Monetary Policy Committee meeting, where members will determine whether to retain or adjust the country’s benchmark interest rate, currently at 23 per cent.
The meeting will be the first since the committee reduced the Monetary Policy Rate by 350 basis points, from 26.5 per cent to 23 per cent, at its 307th session held on September 22, 2026.
The previous rate cut followed a marginal moderation in inflation and efforts by the apex bank to improve liquidity conditions in the financial system.
At the forthcoming two-day meeting, the MPC, chaired by the CBN Governor, Olayemi Cardoso, is expected to assess developments in the domestic and global economies before reaching a decision.
Key indicators expected to feature in the deliberations include inflation figures, exchange rate performance, gross domestic product growth and prevailing conditions in international financial markets.
The meeting is attracting attention from economists, financial analysts and investors, who will be watching to see whether the committee maintains the current 23 per cent rate to allow previous policy adjustments to influence economic activities or considers another adjustment.
The outcome is also expected to shape market expectations and monetary conditions ahead of the 2027 general elections.
Cardoso is expected to announce the committee’s decision at a press briefing scheduled to hold at the CBN headquarters in Abuja on Tuesday, November 24, at the conclusion of the meeting.
