The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has voted to maintain all key monetary policy rates as it monitors unfolding economic conditions in the near term.
The decision was announced by CBN Governor and MPC Chairman, Olayemi Cardoso, following the Committee’s 300th meeting held in Abuja.
After a two-month interval since its first session of the year, the Monetary Policy Committee has convened for its second meeting in 2025 marking the 300th sitting since inception.
Governor Olayemi Cardoso announced that the Committee unanimously voted to retain the Monetary Policy Rate (MPR) at 27.50%.
The Cash Reserve Ratio (CRR) remains at 50% for Deposit Money Banks and 16% for Merchant Banks.
The Liquidity Ratio stays at 30%, and the Asymmetric Corridor at +500/-100 basis points around the MPR.
Mr Cardoso explained that the decision aims to provide room for the Committee to better assess near-term economic developments.
He also noted a marginal improvement in inflation, with headline inflation easing from 24.23% to 23.71%—a 0.52% decrease .
Despite this progress, the MPC expressed concerns about declining crude oil production and falling global oil prices blamed partly on the U.S. trade tariffs and geopolitical tensions, including the Russia Ukraine war
The Committee also highlighted developments in financial inclusion, including the newly launched BVN platform for Nigerians in the diaspora.
Cardoso said the MPC acknowledges relative improvements in key macroeconomic indicators and welcomes innovative fiscal policies implemented by the federal government.
