26

Nov

CBN retains monetary policy rate at 27%

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 […]

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24

May

CBN raises Monetary Policy Rate to 18.50%

The Central Bank of Nigeria (CBN) has increased the interest rate from 18% to 18.5%. The CBN governor, Godwin Emefiele, announced the decision on Wednesday after the policy-setting committee meeting at the CBN headquarters in Abuja. Mr Emefiele, said the committee voted to keep the asymmetric corridor at +100 and -700 basis points around the MPR. Source: CBN[…]

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