The Central Bank of Nigeria (CBN) has kept the Monetary Policy Rate (MPR), its key interest rate, unchanged at 27.5%.CBN Governor, Mr. Olayemi Cardoso, announced this following the conclusion of the Monetary Policy Committee (MPC) meeting.
He stated, “The committee unanimously agreed to maintain all existing parameters as follows: retain the MPR at 27.5%, keep the asymmetric corridor around the MPR at +500/-100 basis points, uphold the cash reserve ratio at 50% for deposit money banks and 16% for merchant banks, and sustain the liquidity ratio at 30%.”
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