The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR), the country’s benchmark interest rate, at 26.5 per cent, maintaining its current monetary policy stance.
The decision was announced on Tuesday at the conclusion of the 306th meeting of the Monetary Policy Committee (MPC), held in Abuja over two days.
All 11 members of the committee participated in the meeting, where they reviewed recent domestic and global economic developments before unanimously deciding to leave the benchmark lending rate unchanged.
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