The Monetary Policy Committee (MPC) on Tuesday kept the Monetary Policy Rate (MPR), also known as the benchmark interest rate, steady, signaling a cautious stance as inflation showed signs of moderation in April.
Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), announced the decision after the second two-day MPC meeting of the year, held in Abuja. According to Cardoso, the Committee chose to pause and assess the impact of previous policy adjustments on inflation, economic growth, and exchange rate stability before taking further action.
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