The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained Monetary Policy Rate (MPR), which is the benchmark interest rate, at 27.50%.
The decision was announced by the Governor of the CBN, Mr. Yemi Cardoso, who also serves as the Chairman of the Monetary Policy Committee (MPC), at the conclusion of the MPC meeting held in Abuja.
Other parameters were retained: Cash Reserve Ratio (50%), Liquidity Ratio (30%), and the asymmetric corridor (+500/-100 basis points).