CBN Retains MPR at 27% to Ensure Economic Stability

The Central Bank of Nigeria (CBN) has decided to keep the Monetary Policy Rate (MPR) unchanged at 27% during a meeting of the Monetary Policy Committee (MPC) in Abuja. The CBN Governor, Mr.

Olayemi Cardoso, emphasized the need to sustain progress towards achieving low and stable inflation. The bank also adjusted the standing facilities corridor around the MPR by 50-450 basis points and retained the Cash Reserve Ratio (CRR) requirements for banks.

These decisions aim to maintain stability in the Nigerian economy.