WorldStage– The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at today’s policy meeting, voted to reduce the Monetary Policy Rate (MPR) by 50bps to 26.50% from 27.00%.
The committee also retained the asymmetric corridor around the MPR at +50bps/-450bps, retained the Cash Reserve ratio (CRR) for Deposit Money Banks at 45.0%, Merchant Banks at 16.0% and 75.0% CRR on non-Treasury Single Account (TSA) public sector deposits.
Moreover, it retained liquidity rate at 30.0%.
