BREAKING: CBN increases MPR to 27.50%, retains other parameters

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday voted to raise the Monetary Policy Rate (MPR) by 25 basis points to 27.50 per cent from the previous 27.25per cent.

This decision was made to address persistent inflationary pressures.

The members also voted to retain the asymmetric corridor at +500basis points/-100basis points ; retain the CRR for Deposit Money Banks at 50per cent and Merchant Banks at 16 per cent and retain  liquidity rate at 30 per cent.

…more details later