BREAKING: CBN LOWERS MPR TO 23% AT MPC MEETING
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By:Aminat Tajudeen
The Monetary Policy Committee of the Central Bank of Nigeria has reduced the benchmark Monetary Policy Rate from 26.5 per cent to 23 per cent.
CBN Governor, Olayemi Cardoso, announced the decision on Tuesday at the conclusion of the committee’s 307th meeting in Abuja.
Cardoso said the committee resolved to “reset the monetary policy rate to 23 per cent.”
The latest decision comes after the MPC retained the rate at its previous two meetings and followed a 50-basis-point reduction announced in February 2026.
The rate cut also comes amid a continued easing of Nigeria’s inflation rate.
The National Bureau of Statistics’ latest Consumer Price Index report showed that headline inflation fell marginally to 15.39 per cent in August 2026, compared with 15.43 per cent in July.
The August figure marked the third consecutive monthly decline in inflation following three straight months of increases.
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