BusinessNewsNigeriaCBN Cuts Interest Rate to 27% As Inflation Eases
At its 302nd meeting, Nigeria’s Central Bank (CBN) on Tuesday reduced its Monetary Policy Rate (MPR) by 50 basis points, bringing it down from 27.5 per cent to 27.0 per cent. Governor Olayemi Cardoso announced the decision, which was unanimous among the Monetary Policy Committee (MPC). This is the first time in five years that the bank has cut interest rates. The interest rate is what the CBN uses to guide how much banks charge...









