The Monetary Policy Committee of the Central Bank of Nigeria has reduced the country’s interest rate to 27.00 per cent for the first time in 2025.
The Governor of CBN, Olayemi Cardoso, disclosed this during a press briefing on Tuesday after the 302nd MPC meeting in Abuja.
“The Committee decided as follows: (1) reduce the monetary policy rate by 50 basis points to 27 per cent,” he said.
This 50 basis points reduction comes after three consecutive pauses in rates.
Cardoso noted that the reduction was due to consistent disinflation recorded in the country.
According to the PUNCH, there were six consecutive hikes recorded in 2024.
More details shortly…
