Nigeria: Interest Rates are Likely to Rise as the MPC Meets.

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Financial experts have expressed varying opinions on the possible outcomes of the rates ahead of the Central Bank of Nigeria’s two-day Monetary Policy Committee meeting, which begins on 23rd Jan, 2023. The CBN announced that its 289th meeting would be held in Abuja.

Experts and researchers at Cordros Securities predict a rate hike following the meeting, stating that the MPC will prefer smaller rate hikes in the short term.

“Elsewhere, the prospect of global central banks embarking on smaller interest rate hikes could also influence the MPC’s decision to toe the same line amid concerns about the domestic economy,” they wrote in a report.

As a result, we anticipate that the committee will raise the MPR by 50bps to 100bps while maintaining other policy parameters.


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