CBN holds benchmark interest rate at 27%
CBN Headquarters
Abdullateef Fowewe
The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has decided to maintain the benchmark interest rate at 27 percent, continuing its pause on further monetary tightening.
Announcing the decision at the conclusion of the committee’s 303rd meeting in Abuja, CBN Governor Olayemi Cardoso noted, “The Committee decided by a majority vote to maintain the monetary policy stance,” reflecting reservations about the current economic environment supporting a rate cut.
This marks the fourth consecutive hold of the interest rate in 2025 following a 50-basis-point reduction in September—the sole easing move since the aggressive rate hikes started under the current CBN leadership.
In 2024, the MPC raised rates six times in response to high inflation and pressures on the naira, aiming to stabilize the economy.
The committee’s cautious approach underscores ongoing concerns over inflation dynamics and currency stability despite some progress, as it weighs the timing for future monetary easing.
