CBN cuts MPR to 26.5%, naira weakens to N1,359/$
The Central Bank of Nigeria (CBN) reduced the Monetary Policy Rate (MPR) by 50 basis points to 26.5% at its 304th MPC meeting, causing the naira to close at N1,359/$ on Tuesday (down from N1,353.5/$ Monday). This marks the lowest rate in 13 months. FX reserves rose to $50.45 billion, the highest in 13 years, boosting market confidence. Other parameters including Cash Reserve Ratio (45%) and Liquidity Ratio (30%) remained unchanged. Will this rate cut stimulate economic growth or impact inflation control?
SOURCE: https://nairametrics.com/2026/02/25/naira-slides-to-n1359-after-cbn-cuts-interest-rate-to-26-5/