Nigeria, Sept. 24 -- Economists and financial analysts have offered mixed views on the immediate impact of the Central Bank of Nigeria's (CBN) decision to cut the Monetary Policy Rate (MPR) by 350 basis points.

The economists said the move could reduce borrowing costs but may take time to translate into cheaper credit for businesses and consumers.

CBN on Tuesday cut the benchmark interest rate to 23 per cent from 26.5 per cent and recalibrated the policy corridor as part of what it described as an operational realignment aimed at strengthening monetary policy transmission.

The rate cut is the lowest since February 2024, when it was pegged at 22.75 per cent.

The apex bank said its previous reforms improved Nigeria's macroeconomic condi...