CBN retains MPR at 26.5%

The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR), also known as benchmark interest rate, at 26. 5 per cent.CBN Governor Olayemi Cardoso announced this on Tuesday after the 306th Monetary Policy Committee (MPC) meeting held in Abuja from July 20 to July 21.“The committee decided as follows: retain the monetary policy rate at 26.5 per cent,” Mr Cardoso said at the MPC briefing.This decision marks the second consecutive retention of the MPR at 26.5 per cent