Nigeria Central Bank Policy Rate: 11.5% (May 2021)
Nigeria Central Bank Policy Rate came in at 11.5 on May 25, 2021, compared with 11.5 previously. See the full release history, chart, Central Bank of Nigeria context, and API access for this series.
- Actual
- 11.5
- Previous
- 11.5
- Forecast
- --
- Next release
- Nov 24, 2026
May 2021
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Nigeria Central Bank Policy Rate release chart
Readings leading into this release, with this print highlighted. Hover or tap a point for its value.
Nigeria Central Bank Policy Rate release analysis
What the release showed
Nigeria Central Bank Policy Rate came in at 11.5 in the release of May 25, 2021, unchanged from 11.5.
Why Central Bank Policy Rate matters for NGN
Policy rate differentials between countries are the primary driver of carry-trade positioning and long-run FX equilibrium. When the Central Bank of Nigeria is hiking while others are on hold, the ngn typically appreciates on an interest rate differential basis.
How to read it
A surprise rate hike is ngn-positive; a surprise cut is negative. Forward guidance and the policy statement accompanying each decision are often more market-moving than the rate change itself, as markets are usually well-positioned for the expected move.
What to watch next
The next Nigeria Central Bank Policy Rate release is due on Nov 24, 2026.
- Differentials widening (one central bank diverging from the others)
- Dovish/hawkish surprises versus the rate path priced into OIS
- Forward guidance language shifts even when the rate is unchanged
- Out-of-meeting cuts or hikes (rare, large FX impact)
Recent Nigeria Central Bank Policy Rate releases
Each release with the date it was published. Full history
| Released | Period | Actual | Previous | Forecast |
|---|---|---|---|---|
| May 25, 2021 | May 2021 | 11.5 | 11.5 | -- |
| Mar 23, 2021 | March 2021 | 11.5 | 11.5 | -- |
Get Nigeria Central Bank Policy Rate data as soon as it is published
This page shows the most recent releases. The API serves the full Nigeria Central Bank Policy Rate history and every other series we cover, with each row stamped with the time the official source published it.
- Full release history with actual, previous and reference period on every row.
- Publication timestamps on each announcement, so backtests only use data that was public at the time.
- Consensus forecasts joined by announcement ID to measure the surprise.
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Start Free Trial Read the API referenceGET https://api.fxmacrodata.com/v1/announcements/ngn/policy_rate
import requests
resp = requests.get(
"https://api.fxmacrodata.com/v1/announcements/ngn/policy_rate",
headers={"X-API-Key": "YOUR_API_KEY"},
timeout=30,
)
rows = resp.json()["data"]
print(rows[-1])Match this release by announcement_id ngn_policy_rate_2021-05-25. Forecasts for the same release: /v1/predictions/ngn/policy_rate.
Release data snapshot
Citation fields for this announcement.
| Public release ID | ngn_policy_rate_2021-05-25 |
|---|---|
| Release time |
Estimated 2021-05-25 13:00 UTC
|
| Reference period date | 2021-05-25 |
| Actual value | 11.5 |
| Previous value | 11.5 |
| Forecast | -- |
| Surprise | -- |
More Nigeria Central Bank Policy Rate releases
Move through adjacent announcement records for the same series.
Related Nigeria indicators
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Central Bank Total Assets
Total assets on the central bank's balance sheet, reflecting the scale of monetary policy operations including quantitative easing programs.
Foreign Exchange Reserves
Assets held by the central bank in foreign currencies, used to support the exchange rate and manage monetary policy. Key indicator of a country's external financial position.
Common questions about this release
The value, its publication time, the next scheduled date, and the official publisher for Nigeria Central Bank Policy Rate.
What did Nigeria Central Bank Policy Rate come in at, and how did it compare with the forecast and the previous reading?
Nigeria Central Bank Policy Rate was 11.5% in May 2021. The previous reading was 11.5%.
When was this Nigeria Central Bank Policy Rate release published?
The publication time is estimated for May 25, 2021 at 14:00 Africa/Lagos. The publication time is derived from the lag measured on this series' confirmed releases and the record carries the release_time_assumed flag.
When is the next Nigeria Central Bank Policy Rate release?
The next Nigeria Central Bank Policy Rate release is scheduled for Nov 24, 2026.
What is the official source for Nigeria Central Bank Policy Rate?
CBN publishes the official Central Bank Policy Rate series. FXMacroData stores every release with its announcement timestamp and serves it from the announcements endpoint for this series.
Raw announcement payload
Field names are preserved for traceability and downstream testing.
{
"announcement_datetime": 1621947600,
"announcement_id": "ngn_policy_rate_2021-05-25",
"capture_time_basis": "backfill_fetch_completed",
"date": "2021-05-25",
"observed_at_ns": 1791242529038103000,
"previous_value": 11.5,
"publication_time_precision": "unknown",
"publication_time_status": "assumed_historical",
"release_time_assumed": true,
"revisions": [
{
"epoch": 1621947600,
"val": 11.5
},
{
"capture_time_basis": "backfill_fetch_completed",
"epoch": 1621947600,
"is_first_release": false,
"observed_at_ns": 1791242529038103000,
"publication_time_precision": "unknown",
"publication_time_status": "unverified",
"val": 11.5,
"vintage_status": "captured_snapshot"
},
{
"capture_time_basis": "backfill_fetch_completed",
"epoch": null,
"is_first_release": false,
"observed_at_ns": 1791242529038103000,
"publication_time_precision": "unknown",
"publication_time_status": "unknown",
"val": 11.5,
"vintage_status": "captured_snapshot"
},
{
"capture_time_basis": "backfill_fetch_completed",
"epoch": 1621947600,
"is_first_release": false,
"observed_at_ns": 1791258610460774700,
"publication_time_precision": "unknown",
"publication_time_status": "unverified",
"val": 11.5,
"vintage_status": "captured_snapshot"
}
],
"val": 11.5,
"vintage_status": "captured_snapshot"
}