BREAKING: CBN increases monetary policy rate to 27.50%

The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) to 27.50%, up from 27.25%.

CBN Governor, Mr. Olayemi Cardoso, announced the decision at the conclusion of the Monetary Policy Committee (MPC) meeting held in Abuja on Tuesday.

The slight increase in the benchmark interest rate reflects the committee’s continued efforts to address inflation and stabilize the nation’s economy.

Further insights from the ongoing post-MPC briefing are expected to shed light on the rationale behind the decision and its anticipated impact.