The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the country’s interest rate at 27.50%.
CBN Governor Olayemi Cardoso announced the decision during a press briefing on Thursday following the 299th MPC meeting held in Abuja.
According to Cardoso, the committee’s decision aims to tackle inflation, stabilize the economy, and maintain investor confidence while ensuring sustainable growth in the country.
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“The Committee was unanimous in its agreement to hold all parameters,” he said.
This pause in rate comes after six consecutive hikes recorded in 2024.
(Punch)