CBN Retains Interest Rate At 26.5%

The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has opted to keep the Monetary Policy Rate (MPR), which is the country’s benchmark interest rate, unchanged at 26.5 per cent.

It reached the decision following the MPC meeting held in Abuja on Tuesday. The CBN governor, Olayemi Cardoso, who announced it, said that while domestic economic indicators show resilience following past structural reforms, heightened global geopolitical uncertainties, particularly in the Middle East, continue to pose risks to energy prices and domestic inflation.