The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 27.5 percent, keeping interest rates steady.

CBN Governor Olayemi Cardoso announced the decision during a press conference held on Tuesday in Abuja, following the committee’s milestone 300th meeting.

The MPR, which serves as the benchmark interest rate in the country, was left unchanged after the MPC assessed current macroeconomic conditions and risks. The committee’s decision suggests a cautious approach to monetary tightening, with inflation still a key concern but showing early signs of moderation.

Details to come later

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