The Central Bank of Nigeria (CBN) has announced the retention of the Monetary Policy Rate (MPR) at 27.5%, following the conclusion of its 301st Monetary Policy Committee (MPC) meeting held on Tuesday, July 22, 2025.
CBN Governor, Dr. Olayemi Cardoso, who briefed journalists after the meeting, said the committee’s decision to hold the rate steady was based on the need to sustain the disinflationary trend in the economy.
“The decision was premised on the need to sustain disinflation,” Cardoso stated, highlighting the committee’s cautious optimism over recent economic indicators.
All 12 members of the MPC voted unanimously to maintain the MPR at 27.5%, signaling a unified stance among policymakers amid lingering inflationary pressures and exchange rate volatility.
The MPR, which serves as the benchmark interest rate, has remained a key tool in the apex bank’s efforts to rein in inflation, which, while slowing in recent months, remains above the CBN’s comfort zone.
Analysts had been divided ahead of the meeting, with some expecting a marginal hike to strengthen the naira and others predicting a hold decision due to concerns over sluggish economic growth.
The CBN’s decision to hold rates suggests a focus on balancing inflation control with economic stability, as businesses and consumers continue to navigate a challenging macroeconomic environment.
Other key decisions from the MPC meeting, including adjustments to the Cash Reserve Ratio (CRR) or Liquidity Ratio, were not immediately disclosed at the time of the announcement.
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