CBN Slashes MPR to 27% to Boost Economic Growth

The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) by 50 basis points to 27% in a bid to stimulate economic growth. This decision, announced by CBN Governor Olayemi Cardoso after the Monetary Policy Committee meeting in Abuja, aims to maintain exchange rate stability and combat inflation.

The MPR cut comes amidst relative stability in the exchange rate and disinflation trends. The CBN will continue to monitor inflationary pressures and adjust policies accordingly to support the country's economic recovery efforts.