US EditionNigeria: CBN Reduces Interest Rates By 50 Basis Points to 26.5 Percent
The Central Bank of Nigeria kept cash reserve requirements high while lowering the Monetary Policy Rate to 26.5%, citing balanced risks and an 11th consecutive inflation decline.
- At the end of its 304th Monetary Policy Committee meeting on Tuesday, the Central Bank of Nigeria cut the monetary policy rate by 50 basis points to 26.50%, Olayemi Cardoso said.
- The Committee said the move reflected a balanced evaluation of risks, previous monetary policy actions, and enhanced food supplies amid sustained disinflation.
- Regarding bank buffers and facilities, the Committee kept the CRR at 45% for deposit money banks, 16% for merchant banks, and retained the liquidity ratio at 30%, with corridor adjustment to +50/-450 basis points around the MPR.
- All members present unanimously agreed the decision, with 11 Monetary Policy Committee members recorded in attendance at the meeting, Cardoso said.
- Against that backdrop, DAILY POST reports the country's interest rate fell to 26.50% in February from 27%, citing the Central Bank of Nigeria.
32 Articles
32 Articles
CBN Reduces Interest Rates By 50 Basis Points To 26.5%
The Central Bank of Nigeria (CBN) has reduced Monetary Policy Rates (MPR) by 50 basis points from 27 per cent to 26.5 per cent Central Bank governor, Olayemi Cardoso, made the disclosure while briefing the media at the end of the 304th Monetary Policy Committee meeting in Abuja on Tuesday “The Committee decided to reduce monetary policy rates by 50 basis points to 26.5% ”Also, Committee decided to retain the cash reserve requirements for deposit…
Central Bank of Nigeria Cuts Interest Rate to 26.5% as Disinflation Continues
The Central Bank of Nigeria has reduced the Monetary Policy Rate (MPR) by 50 basis points to 26.5 percent from 27 percent, marking its first easing move after an extended tightening cycle. The decision was taken at the 304th meeting of the Monetary Policy Committee (MPC) in Abuja, with Governor Olayemi Cardoso announcing the outcome. […] The post Central Bank of Nigeria Cuts Interest Rate to 26.5% as Disinflation Continues appeared first on Teke…
NECA, CPPE commend CBN’s interest rate cut
WorldStage– The Nigeria Employers’ Consultative Association (NECA) has commended the Central Bank of Nigeria (CBN) for reducing the Monetary Policy Rate (MNR). NECA Director-General, Mr Adewale-Smatt Oyerinde, praised the decision in a statement issued on Tuesday in Lagos. He noted that the Monetary Policy Committee lowered the MPR from 27.0 per cent to 26.5 per cent at its 304th meeting. Oyerinde described the 50 basis point cut as “a cautious …
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