WATCH THE VIDEO HERE CBN Governor Olayemi Cardoso announced this on Thursday during a press briefing following the 299th MPC meeting in Abuja. “The committee was unanimous in its decision to hold all parameters and thus decided as follows: retain the MPR at 27.50%, retain the asymmetric corridor around the MPR at plus 500 to minus 100 basis points. Retain the cash reserve ratio of deposit money banks at 50% and merchant banks at 16% and retain the liquidity ratio at 30%,” Cardoso stated. This decision comes after a series of six consecutive rate hikes in 2024, signaling a cautious approach to monetary policy. More details to follow.
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has decided to keep the country’s benchmark interest rate steady at 27.5%.
Just In: CBN Maintains Interest Rate At 27.5% Amid Economic Review
