CBN Cuts MPR to 27%

James Emejo in Abuja

The Central Bank of Nigeria (CBN) Tuesday resolved to reduce the Monetary Policy Rate (MPR) to 50 basis points to 27 per cent from 27.50 per cent.

The slash came amid relative stability in exchange rate and disinflation.

Addressing journalists at the end of the two-day meeting of the Monetary Policy Committee (MPC) in Abuja, CBN Governor, Mr. Olayemi Cardoso, said the bank will continue to monitor inflationary trends and act appropriately.

Details later….