The Central Bank of Nigeria lowered its benchmark rate by 50 bps to 27% on September 23, 2025, the first cut since September 2020, following three meetings of no change. Slowing inflation and naira's recent strength prompted the decision, with the goal of supporting economic growth. Nigeria’s annual inflation rate eased for the fifth month to 20.12% in August 2025, marking the softest reading since July 2022.
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