The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday reduced the country’s benchmark interest rate, the Monetary Policy Rate (MPR), from 27.5 per cent to 27 per cent.
CBN Governor, Mr. Yemi Cardoso, announced the decision while presenting the communiqué of the committee’s 302nd meeting in Abuja.
The move signals a shift from the MPC’s aggressive tightening stance, which has been in place since 2024.
Cardoso said the committee also agreed to lower the Cash Reserve Ratio (CRR) for commercial banks to 45 per cent from 50 per cent, while retaining it at 16 per cent for merchant banks.
He added that the Liquidity Ratio was maintained at 30 per cent, while the Asymmetric Corridor was adjusted to +250/-250 basis points from +500/-100 basis points around the MPR.
