The Central Bank of Nigeria (CBN) has decided to keep its Monetary Policy Rate (MPR) unchanged at 27.5%.
CBN Governor, Mr. Olayemi Cardoso, announced this after the Monetary Policy Committee (MPC) meeting.
He stated: “The committee reached a consensus to maintain all policy parameters, including: holding the MPR at 27.5%, keeping the asymmetric corridor around the MPR at +500 to -100 basis points, preserving the cash reserve ratio for deposit money banks at 50% and for merchant banks at 16%, and retaining the liquidity ratio at 30%.”
