The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR), the country’s benchmark interest rate, at 26.5 per cent.
The decision was announced at the 305th meeting of the Monetary Policy Committee (MPC) on Tuesday.
It means that the apex bank has opted to keep its key lending rate unchanged as it continues to monitor inflationary pressures and broader macroeconomic developments.
The Monetary Policy Rate serves as the benchmark for interest rates across the banking sector and is one of the CBN’s primary tools for managing inflation, stabilising prices, and supporting economic growth.
