The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has lowered the country’s interest rate to 27.00 per cent, marking the first adjustment in 2025.
CBN Governor Olayemi Cardoso announced the decision on Tuesday during a press briefing after the 302nd MPC meeting in Abuja.
“The Committee decided as follows: (1) reduce the monetary policy rate by 50 basis points to 27 per cent,” he stated.
The 50 basis points cut follows three consecutive pauses in rates. Cardoso explained that the move was driven by consistent disinflation in the economy.
DTOWNCRIRE reports that the country had witnessed six consecutive rate hikes in 2024.
More details shortly…
