The CBN cut its benchmark interest rate to 26.5 per cent following signs of moderating inflation and improving macroeconomic conditions.
The Central Bank of Nigeria (CBN) on Tuesday reduced the Monetary Policy Rate (MPR) to 26.5 per cent from 27 per cent, citing easing inflationary pressures. Addressing journalists after the two-day Monetary Policy Committee meeting in Abuja, CBN Governor, Mr. Olayemi Cardoso, said the decision followed recent moderation in headline inflation and other positive macroeconomic developments.
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