Breaking: CBN Reduces MPR to 26.5%

James Emejo in Abuja

The Central Bank of Nigeria (CBN) Tuesday resolved to reduce the Monetary Policy Rate (MPR), the benchmark interest rate, to 26.5 per cent from 27 per cent.

Addressing journalists after the two-day meeting of the Monetary Policy Committee (MPC) in Abuja, CBN Governor, Mr. Olayemi Cardoso, said the decision to reduce MPR followed recent moderation in headline inflation, among other positive developments in the macroeconomy.

Details later.