The Central Bank of Nigeria (CBN) has maintained its monetary policy rate at 26.5% for the second month running. This decision was taken at the CBN’s 306th Monetary Policy Committee (MPC) Meeting.
The apex bank maintained this tight monetary policy stance to sustain the moderation of inflation, preserve stability in the foreign exchange market, and consolidate macroeconomic gains.
key parameters retained by the CBN include:
Monetary Policy Rate (MPR): 26.5%
Standing Facilities Corridor: Asymmetric corridor of +50 to -450 basis points around the MPR
Cash Reserve Ratio (CRR) for Commercial Banks: 45.00%
Cash Reserve Ratio (CRR) for Merchant Banks: 16.00%
CRR on non-TA Public Sector Deposits: 75.00%
Liquidity Ratio: 30.00%
