The Central Bank of Nigeria is widely expected to maintain its benchmark interest rate at 26.5% when the Monetary Policy Committee meets this week, according to forecasts from the Country Investment Bank of Nigeria (CIBN).
The prediction aligns with broader market sentiment that the central bank has reached a plateau in its aggressive tightening cycle aimed at curbing double-digit inflation.
75%, while the Federal Reserve faces its own decision later this month.
The expectation of a hold reflects a shift in focus from rate hikes to assessing the impact of previous measures on price stability and economic activity.
With inflation remaining a critical concern across the continent, the CBN’s decision will be closely watched for any signals regarding future policy direction or potential easing timelines.
This development comes as other major central banks also navigate complex monetary landscapes.
The Bank of England is anticipated to keep its rate unchanged at 3.75%, while the Federal Reserve faces its own decision later this month.