The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) today increased the monetary policy rate to 26.25 per cent from 24.75 per cent, representing an increase of 150 basis points.
The committee deliberated on the following macroeconomic concerns: Persistent inflation; Foreign exchange volatility; the strength and resilience of the banking system; and Economic output.
Consequently, the Committee voted to raise the MPR by 150 basis points from 24.75% to 26.25%, retain the asymmetric corridor at +100/-300 around the MPR, hold the CRR at 45.00% and retain the liquidity ratio at 30.00%.
More details soon
