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New interest rate stands at 26.25%
In a similar vein, the MPC kept Deposit Money Banks’ Cash Reserve Ratio (CRR) at 45% and their Liquidity Ratio at 30%.
The Monetary Policy Rate was once again increased by the Central Bank of Nigeria (CBN) by 150 basis points, to 26.25 percent from 24.75 percent.
The governor of the CBN, Mr. Olayemi Cardoso, briefed the media on the results of the 295th Monetary Policy Committee (MPC) meeting in Abuja. He also stated that the committee decided to keep the asymmetric corridor of +100/-300 basis points.
In a similar vein, the MPC kept Deposit Money Banks’ Cash Reserve Ratio (CRR) at 45% and their Liquidity Ratio at 30%.
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