The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has decided to keep the country’s interest rate unchanged at 27.50 percent for the second time this year.
CBN Governor Olayemi Cardoso announced the decision during a press briefing on Tuesday following the 300th MPC meeting held in Abuja.
“The Committee was unanimous in its decision to maintain all parameters,” he said.
This marks the second consecutive pause in the rate after six successive increases throughout 2024.