Loading banners
NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has reduced the country’s benchmark interest rate from 27 percent to 26.5 percent, signaling a shift in monetary stance amid evolving economic conditions.
CBN Governor Olayemi Cardoso announced the decision on Tuesday at the end of the committee’s 304th meeting held in Abuja.
The new rate represents the lowest level since May 2024, when the Monetary Policy Rate (MPR) stood at 26.25 percent.
The marginal reduction is expected to influence lending rates across the banking sector and could ease borrowing costs for businesses and households. (Arise News)
