The Central Bank of Nigeria (CBN) has kept its benchmark interest rate at 27.5%, maintaining its tight monetary policy stance to control inflation and stabilize the economy.
The decision was announced after the Monetary Policy Committee (MPC) meeting on [insert date], where policymakers assessed the country’s economic outlook.
CBN Governor [insert name] stated that the move aligns with efforts to tackle rising inflation, currently at [insert inflation rate]%, and ensure exchange rate stability.
“The decision reflects our commitment to price stability and economic growth,” the governor said, adding that liquidity measures would be monitored to support financial sector resilience.
Market analysts had anticipated the rate hold, citing concerns over high food prices and foreign exchange volatility. Meanwhile, business owners and investors continue to monitor how this will impact borrowing costs and economic recovery.
