The Monetary Policy Committee of the Central Bank of Nigeria has kept the benchmark interest rate unchanged at 27 per cent, extending its pause on monetary tightening.
CBN Governor Olayemi Cardoso announced the decision on Tuesday at the close of the committee’s 303rd meeting in Abuja.
According to Cardoso, “The Committee decided by a majority vote to maintain the monetary policy stance,” noting that members were not yet persuaded that current economic conditions supported another rate cut.
The decision comes after a 50-basis-point reduction in September 2025, the first and only cut since the tightening cycle began under the current CBN leadership. It also marks the fourth consecutive hold this year.
The PUNCH reports that the MPC had raised interest rates six times in 2024 in response to rising inflation and currency pressures.
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