BREAKING: CBN Refuses To Budge—Monetary Rate Remains At Record 27.5%!

The Central Bank of Nigeria (CBN) has opted to maintain the Monetary Policy Rate (MPR) at 27.5%, a move aimed at consolidating gains in the ongoing battle against inflation and ensuring economic stability

CBN Governor Olayemi Cardoso made this disclosure on Tuesday while addressing journalists at the conclusion of the 301st Monetary Policy Committee (MPC) meeting in Abuja.

He noted that the committee unanimously agreed to retain the MPR at 27.5%, keep the Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks, and leave the Liquidity Ratio unchanged at 30%.

Cardoso emphasized that this decision reflects the committee’s cautious stance in navigating monetary pressures and sustaining price stability, according to IReporter Online.

“These measures are critical in maintaining our trajectory towards curbing inflation and managing liquidity risks,” he stated.

On the subject of the ongoing recapitalisation exercise, the CBN Governor confirmed that eight financial institutions have already fulfilled the new capital requirements, while others are progressing steadily toward compliance.

“The recapitalisation drive is part of our broader strategy to strengthen the financial sector and support the real economy,” Cardoso added, according to IReporter Online.

This MPC decision comes amid persistent inflationary concerns and currency volatility, as investors and stakeholders watch closely for future CBN interventions to stabilize the naira and restore investor confidence.

”IREPORTER REPORTS”