CBN Governor, Cardoso
News Update
THE Central Bank of Nigeria (CBN) has decided to keep the Monetary Policy Rate (MPR) unchanged at 27.5%.
This announcement was made by the CBN Governor, Olayemi Cardoso, following the 300th meeting of the Monetary Policy Committee (MPC), which took place in Abuja.
All 12 members of the committee agreed on the decision.
In addition to the interest rate, the committee also maintained other key financial indicators.
The cash reserve ratio for regular banks stays at 50%, while merchant banks will continue with a 16% reserve.
The liquidity ratio for banks remains at 30%.
Governor Cardoso explained that the decision to maintain these rates was influenced by a recent slowdown in food inflation and progress in addressing insecurity, particularly in farming areas.
These factors have contributed to a more stable economic outlook, and the CBN believes that holding the rates steady will help support continued improvement.
YOU CAN READ MORE NEWS UPDATES AND INFO @ https://www.voiceairmedia.com
Boko Haram has issued a 72-hour ultimatum to the Nigerian government over 416 captives in…
Doctors in Ondo State, under the auspices of the Nigeria Medical Association, the Ondo State…
The Federal Government has earmarked N1.371bn in the 2026 budget for the prosecution of Boko…
The Federal Road Safety Corps, FRSC, has called on motorists across the country to reduce…
The Peoples Democratic Party, PDP, will on Monday (today) hold a National Executive Committee meeting,…
Barely one week after a Nigerian mother of three died of cancer in the United…