The Central Bank of Nigeria (CBN) has decided to maintain its Monetary Policy Rate (MPR) at 27.5 per cent, following the 300th meeting of the Monetary Policy Committee (MPC) held in Abuja.
CBN Governor announced that all 12 MPC members unanimously agreed to retain the MPR, along with other key rates. The Cash Reserve Ratio (CRR) remains at 50 per cent for Deposit Money Banks and 16 per cent for merchant banks. The Liquidity Ratio also stays unchanged at 30 per cent.
The decision, according to the CBN, reflects the bank’s cautious optimism in response to a slowdown in food inflation and improvements in security within agricultural communities. The bank believes these gains support a more stable monetary environment, prompting the decision to hold rates steady.
