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.