CBN Cuts MPR to 27% in Effort to Boost Economic Growth
The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) by 50 basis points to 27% during the 302nd Monetary Policy Committee meeting in Abuja. This decision aims to strengthen liquidity management and provide clarity to the financial market.
The adjustment reflects a cautious attempt to ease monetary conditions in response to moderating inflation and improving macroeconomic fundamentals. The CBN is focused on sustaining disinflation efforts while ensuring adequate liquidity in the banking sector to support credit expansion and economic growth.
The move comes after recent data from the National Bureau of Statistics showed a decline in inflation, indicating the potential positive impact of previous monetary tightening measures.
Plus234Feed summary based on reporting from NairaMetrics. Read the original report below.
Read full article
Continue on NairaMetrics
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
CBN Slashes MPR to 27% to Boost Economic Growth
Economists Call for Further Interest Rate Cut by CBN for Economic Growth
Nigerian Manufacturers Optimistic for More Rate Cuts After CBN's MPR Reduction
CBN Implements 75% CRR on Non-TSA Funds to Stabilize Nigerian Economy
Nigeria's Maximum Lending Rate Hits One-Year Low Amid Economic Stability
CPPE Applauds CBN Rate Cuts, Urges Fiscal Reforms for Economic Growth
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
