NEWS
The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR), its benchmark interest rate, to 24.75%, marking a significant increase of 200 basis points from the previous rate of 22.75% set in February.
The CBN, however, has retained the Cash Reserve Ratio (CRR) of commercial banks at 45%, while adjusting upward the Cash Reserve Ratio (CRR) of merchant banks from 10% to 14%.
The CBN also maintained the liquidity ratio of banks at 30%. CBN Governor, Mr. Olayemi Cardoso, disclosed these decisions at the conclusion of the Monetary Policy Committee (MPC) meeting held today. Additionally, the CBN altered the asymmetric corridor from +100/-700 to +100/-300 around the MPR.
The Central Bank of Nigeria (CBN) has
"use strict";
var adace_load_683fd6f49d9ec = function(){
var viewport = $(window).width();
var tabletStart = 601;
var landscapeStart = 801;
var tabletEnd = 961;
var content = '%3Cdiv%20class%3D%22adace_adsense_683fd6f49d985%22%3E%3Cscript%20async%20src%3D%22%2F%2Fpagead2.googlesyndication.com%2Fpagead%2Fjs%2Fadsbygoogle.js%22%3E%3C%2Fscript%3E%0A%09%09%3Cins%20class%3D%22adsbygoogle%22%0A%09%09style%3D%22display%3Ablock%3B%22%0A%09%09data-ad-client%3D%22ca-pub-6593740816138858%22%0A%09%09data-ad-slot%3D%222913030144%22%0A%09%09data-ad-format%3D%22auto%22%0A%09%09%3E%3C%2Fins%3E%0A%09%09%3Cscript%3E%28adsbygoogle%20%3D%20window.adsbygoogle%20%7C%7C%20%5B%5D%29.push%28%7B%7D%29%3B%3C%2Fscript%3E%3C%2Fdiv%3E';
var unpack = true;
if(viewport
})(jQuery);
The Central Bank of Nigeria (CBN) has raised its interest rate to 24.75%.
raised its interest rate to 24.75%.
