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CBN Holds Benchmark Interest Rate at 27.5%
- During its 300th meeting held Tuesday in Abuja, the Monetary Policy Committee decided to keep the key interest rate steady at 27.5%.
- This decision followed a steady rate hike from 11.5% in 2022 and came as inflation eased to 23.71% in April amid improvements in food supply and security conditions.
- CBN Governor Olayemi Cardoso said the MPC voted unanimously to hold all parameters while awaiting further data to assess inflation trends and encouraged continued support for food production.
- The committee noted underlying inflationary pressures due to high electricity costs, foreign exchange demand, and structural factors despite recent positive macroeconomic indicators.
- The retention suggests a cautious approach by the CBN, with the possibility of future rate cuts if inflation continues to moderate in the second half of 2025.
19 Articles
19 Articles
MAN Urges CBN To Cut Interest Rate, Says It Threatens Nigeria’s Industrial Survival » News.ng
The Manufacturers Association of Nigeria (MAN) has expressed deep concern over the Central Bank of Nigeria’s (CBN) continued retention of the Monetary Policy Rate (MPR) at 27.5 percent, calling it a crippling policy that threatens the survival of the country’s manufacturing sector. This follows the outcome of Tuesday’s apex bank’s Monetary Policy Committee (MPC) meeting, which maintained the MPR at 27.5 per cent. In a statement issued by the Di…
Central Bank of Nigeria Holds Interest Rate at 27.5% Amid Inflation Drop, Keeps CRR At 50%
The Central Bank of Nigeria (CBN) on Tuesday opted to keep its benchmark interest rate unchanged at 27.5 percent, despite growing expectations from sections of the financial community for a rate cut following signs of easing inflation. Governor Olayemi Cardoso, who announced the decision at the end of the two-day Monetary Policy Committee (MPC) meeting […] The post Central Bank of Nigeria Holds Interest Rate at 27.5% Amid Inflation Drop, Keeps C…
CPPE raises concerns over CBN interest rate pause - Media Talk Africa
The Centre for the Promotion of Private Enterprise has raised concerns as the Central Bank of Nigeria announced an interest rate pause at 27.50 percent. The chief executive of CPPE and renowned economist, Dr. Muda Yusuf made this known on Tuesday in his reaction to the Monetary Policy Committee’s decision to ho ...
MPC: CBN Keeps Interest Rate At 27.50% - News360 Info - Breaking News, Nigerian News and Multimedia, World News.
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has unanimously decided to maintain the Interest Rate at 27.50%. This decision was announced at the end of the MPC meeting on Tuesday. Additionally, the committee chose to keep the Cash Reserve Ratio (CRR) unchanged at 50% for Deposit Money Banks and 16% […] The post MPC: CBN Keeps Interest Rate At 27.50% appeared first on News360 Info - Breaking News, Nigerian News and Mul…
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