The Central Bank of Nigeria (CBN) has decided to keep the Monetary Policy Rate (MPR) unchanged at 27.5%.
CBN Governor, Olayemi Cardoso, made this announcement following the conclusion of the Monetary Policy Committee (MPC) meeting.
He stated, “The committee was unanimous in its decision to maintain all parameters, including retaining the MPR at 27.50%, keeping the asymmetric corridor around the MPR at plus 500 to minus 100 basis points, maintaining the cash reserve ratio at 50% for deposit money banks and 16% for merchant banks, and holding the liquidity ratio at 30%.”
