CBN’s Monetary Policy Committee Lifts Benchmark Interest Rate to 26.25%
Olayemi Cardoso, Governor of the Central Bank of Nigeria, revealed during the 295th meeting of the Monetary Policy Committee in Abuja that the Monetary Policy Rate (MPR), a key benchmark for interest rates, has been elevated from 24.75% to 26.25%. This marks the third upward adjustment of the benchmark rate by the apex bank this year.
The MPR serves as the foundational interest rate in the economy, influencing the rates set by banks for lending and borrowing.
