Central Bank of Nigeria

The Central Bank of Nigeria's Monetary Policy Committee has decided to maintain the Monetary Policy Rate at 27.0 percent to support ongoing efforts to reduce inflation while navigating global uncertainties. The committee emphasized the importance of a data-driven approach to future policy decisions, highlighting recent positive trends in inflation and external sector performance.

• The Monetary Policy Rate is retained at 27.0 percent, with adjustments made to the Standing Facility corridor.
• Headline inflation has been decelerating for seven consecutive months, attributed to tight monetary policy and improved economic conditions.
• The committee noted the importance of sustaining current policy to allow previous rate hikes to impact the economy effectively.

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