May 14, (THEWILL) – The Central Bank of Nigeria (CBN) has announced that its 300th Monetary Policy Committee (MPC) meeting will hold on Monday, May 19, and Tuesday, May 20, 2025.
This was disclosed in a statement titled “Notice of the 300th Meeting of the Monetary Policy Committee (MPC)” released by the apex bank.
According to the notice, the meeting will take place at the MPC Meeting Room on the 11th floor of the CBN Headquarters in Abuja.
“This is to inform you that the 300th meeting of the Monetary Policy Committee (MPC) is scheduled to hold as follows:
Day 1: Monday, May 19, 2025 — Time: 10:00 a.m.
Day 2: Tuesday, May 20, 2025 — Time: 8:00 a.m.
Venue: MPC Meeting Room, 11th Floor, CBN Headquarters, Abuja,” the notice stated.
The MPC is the apex policy-making body of the CBN, responsible for reviewing economic and financial conditions in the country and formulating appropriate monetary policies to guide short- and medium-term economic management.
It also reviews the CBN’s monetary policy framework and recommends adjustments where necessary.
At its last (299th) meeting held on February 18 and 19, the committee unanimously decided to retain the Monetary Policy Rate (MPR) at 27.5 per cent. It also maintained the asymmetric corridor around the MPR at +500/-100 basis points, the Cash Reserve Ratio (CRR) for deposit money banks at 50 per cent, CRR for merchant banks at 16 per cent, and the liquidity ratio at 30 per cent.
The MPR, often referred to as the benchmark interest rate, is the rate at which the CBN lends to commercial banks. It plays a crucial role in determining the overall cost of borrowing in the economy.
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