WorldStage– The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) ended its two-day meeting on Tuesday with a vote to keep the benchmark interest rate at 27% .
The committee also voted to adjust the asymmetric corridor around the MPR to +50bps/-450bps compared with +250 bps/-250 bps in the Sept action.
The CBN committee also retained cash reserve ratios for Deposit Money Banks, Merchant Banks and non-Treasury Single Account (TSA) public sector deposits at 45.0%, 16.0% and 75.0%, respectively.
It also retained liquidity rate at 30.0%.
The MPC had cut the policy rate by 50 basis points in Oct after years of a hawkish pose.
