Monetary Policy Committee Meeting No. 7

The Monetary Policy Committee (MPC) of the National Bank of Ethiopia held its seventh meeting on July 2026. In line with its roles and responsibilities set out in the NBE Establishment Proclamation, the MPC proposes monetary policies for adoption by the NBE Board and consistent with the central bank’s primary objective of maintaining price stability while supporting growth.

The National Bank of Ethiopia’s Monetary Policy Committee (MPC) has conducted its 7th regular meeting in line with its roles and responsibilities set out in the NBE Establishment Proclamation 1359/2025, Article 23, to propose monetary policies for approval by the NBE Board. In its 7th meeting, the MPC reviewed latest real sector development, inflation dynamics, external sector performance and  developments in the monetary, financial and fiscal sectors, along with global developments affecting the Ethiopian economy. Based on a comprehensive review of these developments, and the near-term outlooks, the Committee recommend appropriate monetary policy measures to be endorsed by the Board.

The Committee’s 7th report covers developments in the following areas: