CBN Holds Interest Rate at 27.5% Amid Mixed Inflation Signals

CBN Holds Interest Rate at 27.5% Amid Mixed Inflation Signals

The Central Bank of Nigeria (CBN) has opted to keep the benchmark interest rate steady at 27.5%, following its latest Monetary Policy Committee (MPC) meeting.

According to the MPC, headline inflation appears to be slowing on a year on year basis, but month to month data still shows persistent price pressures.

 The committee noted that maintaining the current rate is a cautious move aimed at stabilizing prices while monitoring economic trends closely.