CBNcuts MPR to 26.5% to manage inflation
Central Bank of Nigeria reduces benchmark interest rate by 50 basis points to 26.5% from 27%. The 304th MPC meeting saw 11 members approve the policy shift, aiming to curb inflation and stabilize liquidity. This rate cut impacts loans, savings, and Nigeria's Naira value against foreign currencies. Will this stimulate economic growth or affect borrowing costs for businesses?