The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) from 27 per cent to 26.5 per cent.

The U.S. Supreme Court ruling on February 20, invalidating the Trump administration’s use of the International Emergency Economic Powers Act (IEEPA) to levy broad-based tariffs on imports from most countries, slashes the U.S. effective tariff rate (ETR) by more than half, from 13% to around 5% to 6%, says Fitch Ratings.