CBN Retains Interest Rate At 27%

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 The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has retained the country’s monetary policy rate (MPR) at 27 percent.


Olayemi Cardoso, CBN’s governor, announced at a news conference on Tuesday during the committee’s 303rd meeting in Abuja.


The MPR serves as the baseline interest rate in an economy; other interest rates used within the economy are built on it.


The decision represents the fourth time the MPC would retain the MPR, following similar calls in February, May, and July.


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