Nigeria holds key interest rate at 27% as inflation pressures persist

• MPC keeps benchmark rate unchanged despite easing inflation
• Analysts say decision signals caution amid global uncertainties

ABUJA, NIGERIA – Nigeria kept its benchmark interest rate at 27 percent on Tuesday, saying inflation remained too high to ease monetary policy despite seven straight months of slowing price growth.

Central Bank of Nigeria Governor Olayemi Cardoso said a majority of the 12-member Monetary Policy Committee (MPC) voted to hold the rate, citing persistent inflationary pressures even as macroeconomic conditions improve.