Despite earlier expectations of a possible rate cut, the Central Bank of Nigeria, CBN has retained the Monetary Policy Rate, MRR at 27%, saying the move is necessary to preserve the progress made in reducing inflation and stabilising the exchange rate.
At the last Monetary Policy Committee, MPC, meeting for 2025, CBN Governor, Olayemi Cardoso said the Committee chose a cautious approach, warning that premature easing could reverse the recent gains in price stability.
The MPC also voted to retain the Cash Reserve Ratio, CRR for Deposit Money Banks at 45%, Merchant Banks at 16%, and non-TSA public sector deposits at 75%.
(Editor: Terverr Tyav)
