The CBN governor has maintained that the MPC members were committed to price stability and were willing to keep tightening until inflation is tamed.

Multiple reports from investment houses had projected that the MPR would be hiked,

Cowry Asset Management, in its weekly report, projected a 25bps to 50bps hike in interest rates, while the Meristem report anticipates “a 100 basis point increase in the monetary policy rate to 27.25 per cent while likely keeping other parameters unchanged. Overall, we anticipate that the committee will prioritize inflation control and capital inflow sustainability, crucial for maintaining a stable exchange rate system, and accordingly, implement a rate hike to achieve these objectives. He Said.”

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