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flag Nigeria's Central Bank keeps interest rate at 27.50%, despite inflation dropping to 24.48%.

flag The Central Bank of Nigeria (CBN) has kept the benchmark interest rate, the Monetary Policy Rate (MPR), at 27.50%, despite a drop in inflation to 24.48% in January. flag This decision was made during the 299th MPC meeting in Abuja. flag The CBN also retained the Cash Reserve Ratio at 50% for Deposit Money Banks and 16% for Merchant Banks. flag Governor Olayemi Cardoso highlighted improvements in economic indices, though some experts criticize the rebase of the Consumer Price Index (CPI) as not accurately reflecting price drops.

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