ABUJA, Feb. 20 (AGCNewsNet) – The Central Bank of Nigeria (CBN) has maintained its benchmark interest rate at 27.50%, marking a pause after six consecutive hikes in 2024, Governor Olayemi Cardoso announced on Thursday.

Cardoso, speaking at a news conference following the Monetary Policy Committee (MPC) meeting in Abuja, said the committee was unanimous in its decision to hold all key parameters.

“The committee was unanimous in its decision to hold all parameters and thus decided as follows: retain the MPR at 27.50%, retain the asymmetric corridor around the MPR at plus 500 to minus 100 basis points,” he said.

He further noted that the cash reserve ratio for deposit money banks remained at 50%, while merchant banks' ratio stayed at 16%. The liquidity ratio was also left unchanged at 30%.

The decision signals the CBN’s cautious approach to balancing inflation control with economic growth as Nigeria grapples with macroeconomic challenges.

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