The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the country’s interest rate at 27.50 per cent.
The Governor of the CBN, Mr. Olayemi Cardoso, told a news conference after the MPC meeting on Thursday in Abuja that the Committee was unanimous in its agreement to hold all parameters.
“The committee was unanimous in its decision to hold all parameters and thus decided as follows: retain the MPR at 27.50%, retain the asymmetric corridor around the MPR at plus 500 to minus 100 basis points,” he said.
According to him, the cash reserve ratio of deposit money banks was retained at 50% and merchant banks at 16%, while the liquidity ratio was retained at 30%.
This pause in rate comes after six consecutive hikes recorded in 2024 by the MPC.
GIK/APA