Analysts: Nigeria MPC to remain cautious following CPI rebasing

The Central Bank of Nigeria is likely to leave monetary policy rate at 27.5 per cent and at most cut rates by 25 basis points following the release of the rebased consumer price index data. That’s the view of Bismarck Rewane, CEO of Financial Derivatives, Kubi Momoh, Chairman of CitiTrust Asset Management and Gregory Kronsten, Consultant on African Economics during CNBC Africa’s Special MPC Broadcast. They note the country is headed into an environment of improving macroeconomic stability on the back of recent reforms.