The Monetary Policy Rate√ (MPR) increased by 50 basis points, from 26.25% to 26.75%, by the Central Bank of Nigeria (CBN) once more.
At the Monetary Policy Committee (MPC) meeting on Tuesday in Abuja, CBN Governor Olayemi Cardoso made an announcement regarding the modifications.
Governor Cardoso outlined the important choices made during the MPC meeting, noting: “The committee’s decisions are as follows: Raise the MPR by 50 basis points from 26.25% to 26.75%. Adjust the ASI corridor around the MPR from +100/-300 to +500/-100 basis points. Retain the cash reserve ratio of deposit money banks at 45% and merchant banks at 14%. Retain the liquidity ratio at 30%.”
Micheal has over 5 years experience in digital journalism. He’s a New Media Expert with an interest in Human Development and Global Politics.
