CBN says rate cut designed to stimulate productive activities

AI Summary

The Central Bank of Nigeria cut its Monetary Policy Rate from 26.5% to 23%, saying the reduction is intended to stimulate productive activity while continuing efforts to curb inflation. The decision marks a significant easing of monetary policy.

The Central Bank of Nigeria has cut the Monetary Policy Rate from 26.5% to 23% to stimulate productive activities and sustain efforts to lower inflation. Read More: https://punchng.com/cbn-says-rate-cut-designed-to-stimulate-productive-activities/