Central Bank of Nigeria (CBN) has reduced its monetary policy rate (MPR) from 27 percent to 26.5 percent, marking the lowest level since May 2024.
Gatekeepers News reports that the decision was announced on Tuesday by CBN Governor Olayemi Cardoso during the bank’s 304th monetary policy committee (MPC) meeting in Abuja.
Cardoso explained that the adjustment reflects the committee’s assessment of current economic conditions and aims to support growth while maintaining price stability. The previous lowest rate, 26.25 percent, was recorded in May 2024.
This is a developing story…
