The Central Bank of Nigeria (CBN) on Tuesday kept its Monetary Policy Rate (MPR) unchanged at 11.5 percent after the two-day Monetary Policy Committee (MPC) meeting in Abuja.
This comes not as a surprise as analysts in the financial services sector had expected a hold following an uptick in inflation rate and weak growth that has translated into recession for the second time in five years.
Nigeria’s inflation rose to 14.23 percent in October from 13.7 percent in September 2020, according data from the National Bureau of Statistics (NBS).
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By vote of all members of the committee, the CBN also retained the Cash Reserve Ratio (CRR) at 27.5 percent, Liquidity Ratio at 30 percent as well as the Asymmetric Corridor around the MPR at +100/-700 basis points.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
