TUE JULY 22 2025-theGBJournal| The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday kept interest rates steady amid expectations of higher inflation and slower economic growth, and pointed to continued dovish stand.
With market expecting a slight cut of between 25bps and 50 bps, the Monetary Policy Committee kept its key monetary policy rate (MPR) at 27.50%, retained the asymmetric corridor at +500bps/-100bps, retained the CRR for Deposit Money Banks at 50.0% and Merchant Banks at 16.0% and retain liquidity rate at 30.0%.
Economic projections from the meeting pointed to improving fiscal regime, steady exchange rate and its resultant impact on consumer price, and advancing gross domestic product as well as improved investors confidence.
”The policies we have embarked upon are bringing out resulted, inflation is gradually coming under control, and very importantly, Nigerians are having greater confidence in their own currency” the CBN Governor said confidently while announcing the Committees’ unanimous decision.
Besides, the Governor indicated that the changes and reforms that is seen ongoing ”are here to stay,” indicating less concern about the gyrations of the economy and cloud over microeconomic policy.
He sees further improvements in the positive signals seen so far and noted by the IMF/World and investors, if the government can sustain the transparency, vigilance, trust of the investing community.
Nigerian stocks were at record high in the wake of the interest rates announcement.
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