WorldStage Newsonline– The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has raised the country’s baseline lending rate by 150 basis points to 26.25 per cent.
Mr Yemi Cardoso, the Governor of CBN said this on Tuesday in Abuja, while reading the communique from the 295th meeting of the MPC.
Besides raising the MPR, the MPC also retain the Asymmetric corridor around the MPR at +100/-300bps, maintain the Cash Reserve Ratio (CRR) of Commercial banks at 45.00% and maintain the Liquidity Ratio at 30.00%.
This is the third consecutive tightening of the lending rate, known as the Monetary Policy Rate (MPR) by the MPC under Cardoso.
