The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the country’s monetary policy rate (MPR) at 27 per cent.
The MPR serves as the baseline interest rate in an economy; other interest rates used within the economy are built on it.
The MPC pegged the Cash Reserve Ratio (CRR) at 45% for commercial banks, 16% for merchant banks, and 75% on non-TSA public sector deposits.
It also maintained the Liquidity Ratio (LR) at 30%, adjusting the Standing Facilities Corridor to +50 / -450 basis points around the MPR.
According to the Committee, the decisions reflect its focus on achieving low and stable inflation as it welcomed the continued deceleration in headline inflation, driven by sustained monetary tightening, stable exchange rate, and PMS price stability.
Source: CBN retains monetary policy rate at 27% | StocksWatch
