July 22, (THEWILL) — The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate at 27.50 percent, marking its third consecutive hold in 2025.
This decision was announced by the CBN Governor, Olayemi Cardoso, during a press briefing on Tuesday in Abuja, following the conclusion of the MPC’s 301st meeting.
This third pause in rates comes after six consecutive hikes recorded in 2024.
Cardoso said the Committee was unanimous in its decision to retain the MPR at 27.50 per cent,” adding that the pause would enable members to better understand near-term developments in the economy.
“The Monetary Policy Committee (MPC) voted unanimously to retain the Monetary Policy Rate (MPR) at 27.50%; retain the Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks.
“The Committee retains the Liquidity Ratio (LR) at 30% and the Asymmetric Corridor at +500/-100 basis points around the MPR”, he said, adding that the decision to maintain the current MPR was premised on the need to continue to ensure the ongoing disinflation while vigorously ensuring declining prices.
Cardoso further disclosed that as of July 18, the nation’s foreign reserve stood at 40.1 billion, which could provide import cover of nine and a half months. He also disclosed that eight banks had achieved the new recapitalisation requirements.
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