The Central Bank of Nigeria (CBN) has decided to keep the benchmark interest rate at 27.5%, following its latest Monetary Policy Committee (MPC) meeting in Abuja on Thursday.
Governor Olayemi Cardoso shared the news, confirming the decision was unanimous.
Along with the interest rate, the CBN maintained other financial measures.
The cash reserve ratio remains at 50% for deposit money banks and 16% for merchant banks.
The liquidity ratio is also unchanged at 30%.
This decision comes after six interest rate hikes in 2024, signaling the bank’s careful approach to managing the economy.
The MPC’s decision aims to support the country’s economic stability, ensuring consistent growth amid ongoing challenges.
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