The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has maintained the Monetary Policy Rate (MPR) at 27 percent. The announcement was made by CBN Governor Olayemi Cardoso during a press briefing on Tuesday at the committee’s 303rd meeting in Abuja.
The MPR serves as the benchmark interest rate for the economy, guiding how other interest rates are set across financial institutions and markets.
This move marks the fourth consecutive time the MPC has chosen to retain the rate, following similar decisions in February, May, and July.
