BREAKING: MPC of CBN maintains interest rate at 27.5%

The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has voted to hold all rates across board with the headline monetary policy rate (MPR) held at 27.5 per cent. 

This was announced by the central bank governor, Yemi Cardoso, at the press briefing of the monetary policy committee on Thursday. Raise the MPR by 25 basis points to 27.50 per cent from 27.25 per cent.

Retain the asymmetric corridor around the MPR at +500/-100 basis points.

Retain the Cash Reserve Ratio of Deposit Money Banks at 50.00 per cent and Merchant Banks at 16 per cent.

Retain the Liquidity Ratio at 30.00 per cent