CBN eases monetary policy, cuts interest rate to 27% Story by Martha Gwary The Central Bank of Nigeria (CBN) has reduced its benchmark interest rate from 27.5 per cent to 27 per cent, marking the first rate cut in several months. CBN Governor Olayemi Cardoso announced the decision on Tuesday at the end of the 302nd Monetary Policy Committee (MPC) meeting in Abuja. He said the move was driven by a recent slowdown in inflation, which created room for cautious easing. Alongside the rate cut, the MPC adjusted the cash reserve requirement (CRR)...