CBN Retains MPR at 27% to Combat Inflation

The Central Bank of Nigeria (CBN) has decided to retain the Monetary Policy Rate (MPR) at 27% during its Monetary Policy Committee (MPC) meeting held in Abuja. This decision is part of ongoing efforts to control inflation and stabilize the foreign exchange market.

The MPR serves as the benchmark interest rate, reflecting the CBN's commitment to maintaining a tight monetary stance to address the elevated economic conditions and restore investor confidence.