Nigeria CBN Holds Interest Rate at 27% Amid Ongoing Inflation Concerns

The Digest:

The Central Bank of Nigeria has maintained its benchmark interest rate at 27 percent, as announced by Governor Olayemi Cardoso following the 303rd Monetary Policy Committee meeting in Abuja. The decision reflects the bank's continued focus on tackling persistent inflation and stabilizing the economy.

Key Points:

• CBN Monetary Policy Committee retains Monetary Policy Rate at 27%
• Governor Olayemi Cardoso announced the decision in Abuja
• This marks the third consecutive hold of the benchmark rate
• MPC continues prioritizing inflation control and currency stability
• High interest rates aim to curb spending and reduce price pressures
• Decision comes amid mixed economic growth signals
• Next MPC meeting scheduled for January 2026

In a delicate economic balancing act, the CBN maintains its firm stance, choosing the bitter medicine of high rates today over the greater peril of unchecked inflation tomorrow, as Nigeria navigates between growth and stability.

Sources: Nairametrics, Business Day