The Central Bank of Nigeria (CBN) has announced the retention of key monetary policy rates, including the Monetary Policy Rate (MPR) at 27.5%, following its 300th Monetary Policy Committee (MPC) meeting held in Abuja.
CBN Governor, Olayemi Cardoso, disclosed the committee’s unanimous decision during a post-meeting press briefing on Tuesday.
Here are the key highlights from the MPC’s resolution:
•Monetary Policy Rate (MPR): Retained at 27.5%, signaling a conservative monetary stance.
•Asymmetric Corridor: Maintained at +500/-100 basis points around the MPR.
•Cash Reserve Ratio (CRR): Held at 50% for Deposit Money Banks and 16% for Merchant Banks.
•Liquidity Ratio: Left unchanged at 30%.
Governor Cardoso explained that the decision reflects the committee’s cautious approach as it evaluates the impact of previous policy tightening on inflation and overall economic stability.
The CBN cited encouraging signs of inflation moderation, with the headline inflation rate easing to 23.71% in April 2025, down from 24.23% in March, according to data from the National Bureau of Statistics (NBS).
The bank reaffirmed its commitment to maintaining price stability while supporting sustainable economic growth.
