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Nigeria keeps benchmark interest rate steady as inflation seen falling gradually

Summary by Times Live
Nigeria's central bank left its benchmark interest rate unchanged on Thursday after six hikes last year, saying that it was reassured by stability in the foreign exchange market and saw inflation gradually falling.

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Nigeria keeps benchmark interest rate steady as inflation seen falling gradually

Nigeria's central bank left its benchmark interest rate unchanged on Thursday after six hikes last year, saying that it was reassured by stability in the foreign exchange market and saw inflation gradually falling.

·Johannesburg, South Africa
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Nigerian News. Latest Nigeria News. Your online Nigerian Newspaper.Nigerian News. Latest Nigeria News. Your online Nigerian Newspaper.

‘It’s been high for too long’ — Cardoso says CBN targeting single-digit inflation rate

Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says the apex bank aims to cut inflation figures to a single digit in the medium to long term.   Cardoso spoke on Thursday at a news conference held in Abuja after the 299th monetary policy committee (MPC) meeting.   The governor’s statement follows the rebasing of the consumer price index (CPI) which brought down Nigeria’s inflation rate from 34.8 percent to 24.8 percent.   Cardoso…

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LeadershipLeadership

Citing Inflation Moderation, Exchange Stability, CBN Holds Interest Rates At 27.5%

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) took a twist in its year-long inflation chase yesterday by holding all the parameters constant around the 27.5 per cent Monetary Policy Rate, attributing the decision to a moderation in major economic variables, especially the rebased inflation figure. However, analysts say they expect that a moderation in rates is to be expected at the next meeting slated for May 19 and 20, 2025…

·Abuja, Nigeria
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Per Second NewsPer Second News

Nigeria’s Central Bank Holds Interest Rate Steady at 27.50%

The Central Bank of Nigeria (CBN) has decided to hold all parameters steady, keeping the Monetary Policy Rate (MPR) at 27.50%, following a unanimous decision by the Monetary Policy Committee (MPC). This decision aims to maintain stability after the rebasing of the consumer price index (CPI). CBN Governor Olayemi Cardoso announced the decision at a media briefing in Abuja on Thursday after the committee’s 299th meeting saying that the MPC assesse…

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The Heritage TimesThe Heritage Times

Nigeria’s Central Bank Maintains 27.5% Interest Rate Despite Inflation Drop

The Central Bank of Nigeria (CBN) has decided to keep the benchmark interest rate steady at 27.5 percent, even as January’s inflation figures showed a notable decline under the newly adopted rebasing method. CBN Governor Olayemi Cardoso announced this decision following the conclusion of the two-day Monetary Policy Committee (MPC) meeting held in Abuja on Thursday, 20 February. Cardoso explained that the committee, after its 299th session to eva…

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InsideBusiness - Business News in NigeriaInsideBusiness - Business News in Nigeria

CBN Retains Interest Rates At 27.5% Amid Rebased Inflation - InsideBusiness - Business News in Nigeria

The Central Bank of Nigeria (CBN) on Thursday retained its benchmark interest rate known as the Policy Rate (MPR) at 27.5 percent, following the rebased consumer price index (CPI). The National Bureau of Statistics (NBS) on Tuesday rebased the CPI CPI reading, which revealed a sharp reduction in Nigeria’s headline inflation rate to 24.5 percent y/y in January 2025 (post-rebasing) compared with the pre-rebasing reading of 34.8 percent y/y in Dec…

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Nairametrics broke the news in on Thursday, February 20, 2025.
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