Nigeria, Sept. 23 -- Nigeria's central bank reduced its benchmark interest rate by 50 basis points to 27 per cent on Tuesday, ending a run of increases following an aggressive tightening cycle aimed at curbing inflation.

Governor Olayemi Cardoso said the Monetary Policy Committee decision to lower the rate was based on the sustained disinflation recorded in the past five months, projections of declining inflation for the rest of 2025 and the need to support economic recovery efforts.

The benchmark interest rate, known as the Monetary Policy Rate (MPR), is a key tool used by central banks to influence borrowing costs, inflation, and overall economic activity.

The committee also reduced other key policy parameters, including the asymmetr...