BREAKING: CBN’s MPC retains interest rate at 26.50%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its 306th policy meeting voted to retain the Monetary Policy Rate (MPR) or interest rate at its 26.50 per cent. 

The committee retained the asymmetric corridor around the MPR at +50basis points/-450basis points.  

At the end of the two days meeting in Abuja, the committee also maintained the CRR for Deposit Money Banks (DMBs) at 45.0per cent, and Merchant Banks at 16.0per cent. 

Hold the CRR on non-Treasury Single Account (TSA) public sector deposits at 75 per cent and hold the Liquidity Ratio at 30 per cent.

…more details shortly