The Central Bank of Nigeria (CBN) has maintained the current Monetary Policy Rate (MPR) of 27.5 percent with all policy parameters. The Governor of CBN, Mr. Olayemi Cardoso, disclosed this at the MPC briefing in Abuja this afternoon. Consequently, the asymmetric corridor was retained at +500/-100 basis points around the MPR, leaving the Cash Reserve Ratio at 50 per cent for Deposit Money Banks and a general Liquidity Ratio of 30 percent. Mr. Cardoso explained that the decision to maintain the current MPR was premised on the need to continue…
Read MoreCBN Retains 27.5% Interest Rate; 8 Banks Meet Recapitalisation Target
