The Central Bank of Nigeria (CBN) reinforced its commitment to taming inflation and preserving exchange rate stability by leaving its benchmark interest rate unchanged at 26.5 percent for the second consecutive time on Tuesday, a move analysts said reflects caution despite easing price pressures.
At the end of its two-day Monetary Policy Committee (MPC) meeting in Abuja, Olayemi Cardoso, governor of the CBN, said the committee unanimously voted to retain the Monetary Policy Rate (MPR) at 26.5 percent. It also retained the asymmetric corridor around the MPR at +50/-450 basis points, the Cash Reserve Ratio (CRR) for Deposit Money Banks at 45 percent, the CRR for Merchant Banks at 16 percent, a 75 percent CRR on Non-TSA public sector deposits, and the liquidity ratio at 30 percent.
“Eleven months of disinflation, and quite frankly, from every indication, we were expecting that by early 2027, we would be where we want
This post was originally published on this site.
