The Central Bank of Nigeria (CBN) has voted to retain the Monetary Policy Rate (MPR) at 27.5% following the conclusion of its 301st Monetary Policy Committee (MPC) meeting held on Tuesday, July 22, 2025.

Speaking at a post-meeting briefing in Abuja, CBN Governor Dr. Olayemi Cardoso said the committee’s decision to hold the rate steady was aimed at sustaining the recent disinflationary trend and containing price pressures within the economy.

“The decision was premised on the need to sustain disinflation and sufficiently contain price pressure,” Cardoso stated, adding that the committee observed cautious optimism based on emerging economic indicators.

All 12 members of the MPC voted unanimously to maintain the MPR at 27.5%, reflecting a shared resolve to manage inflation and stabilize the exchange rate amid ongoing economic challenges.

Key decisions from the MPC include, retaining the MPR at 27.5%, maintaining the asymmetric corridor around the MPR at +500/-100 basis points, retaining the Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks, and keeping the Liquidity Ratio unchanged at 30%

Cardoso emphasized that maintaining the current monetary stance would help tackle both existing and emerging inflationary pressures. “The MPC will continue to undertake rigorous assessments of economic conditions, price developments, and outlook to inform future policy decisions,” he said.