The Central Bank of Nigeria's Monetary Policy Committee (MPC) has opted to keep the Monetary Policy Rate (MPR) unchanged at 27 percent, signaling confidence in the country's improving economic outlook.
Central Bank Governor Olayemi Cardoso announced the decision following the 303rd MPC meeting in Abuja on Tuesday, where all 12 members attended and unanimously supported the status quo.
In a detailed briefing, Cardoso outlined the adjustments: "The committee decided to maintain the MPR at 27 percent and adjust the standing facility corridor to MPR +50 and -450 basis points."
He further specified that the Cash Reserve Ratio (CRR) remains at 45 percent for merchant banks and 75 percent for non-TSA public sector deposits, while the liquidity ratio stays at 30 percent.
Cardoso attributed the unanimous vote to recent trends of low and stable inflation, emphasizing the MPC's focus on sustaining this momentum to foster long-term economic stability.
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