CBN Retains MPR at 27% to Combat Inflation and Stabilize Markets

The Central Bank of Nigeria (CBN) has maintained its Monetary Policy Rate (MPR) at 27% to address inflation and stabilize the foreign exchange market. Governor Olayemi Cardoso highlighted the need to sustain the downward movement of prices.

Analysts expect the CBN to hold off on lowering loan rates despite a projected appreciation of the Naira against the US Dollar by 2025, as part of efforts to stabilize the macroeconomic environment.