Business
BREAKING: CBN Cuts Interest Rate to 26.5% in Latest Policy Move
The Central Bank of Nigeria has reduced the Monetary Policy Rate by 50 basis points to 26.5%.
- The Central Bank of Nigeria has reduced the Monetary Policy Rate by 50 basis points to 26.5% following a key Monetary Policy Committee meeting aimed at managing inflation and economic stability.
The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) by 50 basis points to 26.5% from 27%.
The decision was taken at the 304th meeting of the Monetary Policy Committee (MPC), where 11 members were in attendance.
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The MPR, which serves as the benchmark interest rate, is a key tool used by the apex bank to manage inflation, liquidity and overall macroeconomic stability.
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