The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR), the country’s benchmark interest rate, at 26.5 per cent.
The decision was reached at the conclusion of the MPC meeting held in Abuja on Tuesday.
Announcing the outcome, CBN Governor Olayemi Cardoso said the committee opted to maintain the current rate after reviewing prevailing domestic and global economic conditions.
Cardoso noted that while Nigeria’s economy has shown resilience following recent structural reforms, rising geopolitical tensions, particularly in the Middle East, continue to pose risks to global energy prices and domestic inflation.
He added that the committee would continue to monitor economic developments and take appropriate measures to ensure price stability and support sustainable economic growth.
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