The Central Bank of Nigeria (CBN) has opted to keep up the Financial Coverage Fee (MPR) at 27.5%, following the conclusion of its two-day Financial Coverage Committee (MPC) assembly held on Could 19 and 20.
The choice was introduced throughout a press briefing on Tuesday, with the apex {bank} citing macroeconomic concerns for holding the speed regular.
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The MPR, which is the benchmark rate of interest used to handle inflation and stabilize the economic system, stays unchanged amid ongoing efforts to make sure {economic} stability and handle inflationary pressures.
Additional particulars from the MPC’s deliberations are anticipated to be launched shortly.
