CBN Keep Interest Rate for 26.5% Again, No Change for Monetary Policy
The Central Bank of Nigeria (CBN) don decide make e no change any of im major monetary policy rates as e retain Monetary Policy Rate (MPR) for 26.5% for di second meeting back-to-back.
Di decision come after meeting of di Monetary Policy Committee (MPC), wey also leave every oda key policy parameter unchanged, including di Cash Reserve Requirement (CRR) and Standing Facilities Corridor.
According to di committee, di move show say CBN still dey maintain tight monetary policy to continue di fight against inflation and protect di stability of di naira.
Di MPC also talk say recent economic indicators show say Nigeria economy dey gradually improve and output growth fit remain strong. However, dem warn say di prolonged crisis for Middle East still pose serious risk to global economy and fit affect Nigeria too.
By keeping interest rate unchanged, CBN say e wan help control inflation, boost investor confidence and maintain macroeconomic stability.
For businesses, di decision mean say loan interest rates go likely remain high, making borrowing more expensive. But for savers and investors, dem fit continue to enjoy better returns on savings and fixed-income investments.
Financial experts believe say CBN go continue to monitor inflation, exchange rate movement and global economic developments before taking any fresh decision on interest rates.
