The Central Bank of Nigeria, CBN, has retained the Monetary Policy Rate, MPR, as its benchmark interest rate at 27.5%.
Governor CBN, Mr Olayemi Cardoso, disclosed this at the end
of the Monetary Policy Committee (MPC) meeting of the apex bank.
He said: “The committee was unanimous in its decision to
hold all parameters and thus decided as follows: retain the MPR at 27.50%,
retain the asymmetric corridor around the MPR at plus 500 to minus 100 basis
points. Retain the cash reserve ratio of deposit money banks at 50% and
merchant banks at 16% and retain the liquidity ratio at 30%.”
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