The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 27% following the conclusion of its 303rd Monetary Policy Committee (MPC) meeting held on Tuesday.
The apex bank also maintained other key monetary policy parameters in their current positions.
In a graphic post on X on Tuesday, the Cash Reserve Ratio (CRR) was shown to remain at 45% for commercial banks and 16% for merchant banks, while the Liquidity Ratio (LR) stays at 30%.
The Standing Facilities Corridor, which provides a band around the MPR for short-term lending and deposit rates, was kept asymmetric at +50 and -450 basis points around the benchmark rate.
This marks another consecutive meeting where the MPC has held rates steady as the central bank continues to balance its mandate of controlling inflation while supporting economic growth.
The decision to retain the MPR at 27% suggests that the CBN’s Monetary Policy Committee believes current rates remain appropriate for addressing prevailing macroeconomic conditions, including inflationary pressures and concerns around exchange rate stability.
Maintaining the 45% CRR for commercial banks reflects the CBN’s continued focus on managing liquidity within the banking system and controlling money supply growth as part of its anti-inflation strategy.
Market analysts will be watching closely for the full communiqué from the CBN Governor and MPC Chairman, which typically provides a detailed rationale for the committee’s decisions and offers guidance on the economic outlook.
The next Monetary Policy Committee meeting is expected to be held in early 2026, during which the committee will reassess economic conditions and determine whether any adjustments to policy rates are warranted.
