July 21, 2024
Interest Rate To Fall To 12.5% In 2026 As CBN Unwinds Tight Stance
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Interest Rate To Fall To 12.5% In 2026 As CBN Unwinds Tight Stance

The Economist Intelligence Unit, EIU, expects the Monetary Policy Rate, MPR, to fall to 12.5 percent in 2026 and remain there throughout the remainder of the forecast period, if inflation drops.

In its latest report on Nigeria, the EIU expects the CBN to begin unwinding its tight stance, with rate cuts beginning early in that year, despite inflation remaining above the ceiling of the CBN’s 6 to 9 percent target range.

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The Monetary Policy Committee, MPC, meeting, which held on February 26 and 27, 2024, raised the MPR by 400 basis points to 22.75 from 18.75 per cent.

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