The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has decided to keep the Monetary Policy Rate (MPR) for the third time in a row.
At the end of its two-day meeting on Tuesday afternoon, the 301st, the Governor of the central bank, Mr Yemi Cardoso, said members of the team agreed to keep all the rates intact for another period, different from what analysts had projected.
According to him, the benchmark interest rate has been left at 27.50 per cent, the asymmetric corridor around the MPR will remain at +500/-100 basis points, the Cash Reserve Ratio (CRR) for Deposit Money Banks (DMBs) at 50.00 per cent, and that of Merchant Banks at 16.00 per cent, and the Liquidity Ratio is unchanged at 30.00 per cent.
He explained that the decision to keep all the rates unchanged was to sustain the current decline in headline inflation and maintain price pressures.
He stated that the monetary authorities will continue to monitor the parameters to help future decisions.
Recall that a few days ago, the National Bureau of Statistics (NBS) revealed that inflation rate in Nigeria eased to 22.22 per cent in June 2025 from the 22.97 per cent recorded in May 2025.
Yesterday, the same agency announced the outcome of the rebased gross domestic product (GDP) of Nigeria, moving it to N205 trillion from N80 trillion.
It also disclosed that in the first quarter of 2025, the country’s economy grew by 3.13 per cent.