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FX BANK FORECAST · COVERAGE
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Aggregated year-end forecasts, scenario shifts, and curated analyst notes from 30 institutional desks. No promotion.
FX BANK FORECAST · COVERAGE
Aggregated year-end forecasts, scenario shifts, and curated analyst notes from 30 institutional desks. No promotion.
Monetary policy rate
26.50%
as of 2026-02-24
Next meeting
Jul 20-21
T-9d
The Central Bank of Nigeria conducts monetary policy for Nigeria with a primary mandate of price stability and exchange-rate stability for the naira. The Monetary Policy Committee meets bi-monthly on a pre-announced schedule (typically five times per year, each session spanning two days) to set the Monetary Policy Rate.
Policy decisions are announced on the dates above. Source: official central bank schedules.
Monetary policy rate
26.50%
As of 2026-02-24
Reports referencing CBN across covered research desks
The next Central Bank of Nigeria (CBN) policy decision is scheduled for Jul 20-21. Because Central Bank of Nigeria sets monetary policy for the NGN, its rate decisions and forward guidance are among the most important scheduled catalysts for NGN exchange rates, and sell-side FX desks reposition their NGN forecasts around each meeting. FX Bank Forecast tracks how the major investment banks' NGN targets shift before and after CBN decisions, so you can see whether the consensus is moving with the policy path or diverging from it. Watching the cross-bank reaction to each meeting is often a more durable signal than any single house call.
Central Bank of Nigeria's policy lean is read from its most recent decisions and guidance. A more hawkish stance — biased toward higher-for-longer rates — tends to be supportive of the NGN, while a dovish, easing-biased stance tends to weigh on it, though the market reaction always depends on what was already priced in. What matters for NGN forecasting is less the stance in isolation than how it compares with what investment banks expected and how it shifts the projected rate path. FX Bank Forecast aggregates how 30 major banks read the CBN path and translates it into where the NGN consensus and its dispersion sit.
Monetary-policy expectations are one of the dominant drivers of currency moves, so Central Bank of Nigeria's decisions — and, just as importantly, how they compare with other central banks — feed directly into where strategists set their NGN targets. Relative policy paths (the CBN versus the Fed and other majors), the pace of cuts or hikes, and the tone of guidance are the channels through which CBN actions transmit into the NGN. FX Bank Forecast compares the published NGN forecasts of 30 major investment banks side by side and shows how that consensus — and the spread of views around it — shifts as the CBN outlook evolves.