The Central Bank of Nigeria (CBN) kept Monetary Policy Rate (MPR) unchanged at 27.5% on Tuesday, signaling continued caution as inflation slows for a third consecutive month but underlying pressures persist.
The decision announced by Olayemi Cardoso, CBN governor at the conclusion of a two-day meeting of the Monetary Policy Committee (MPC) in Abuja, marks the third straight pause in the current tightening cycle.
All 12 MPC members, he said, voted to hold the MPR, maintain the asymmetric corridor at +500/-100 basis points, retain the Cash Reserve Ratio at 50% for deposit money banks and 16% for merchant banks, and keep the liquidity ratio at 30%.