The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 27 percent, signaling its commitment to controlling inflation and stabilizing the foreign exchange market. The Monetary Policy Committee (MPC), meeting in Abuja, voted to keep key policy rates unchanged.
The MPR serves as the benchmark interest rate for the economy and remains elevated as part of CBN’s aggressive measures to curb rising prices and restore investor confidence.
The committee also retained the Cash Reserve Ratio (CRR) at 45 percent for deposit money banks and 16 percent for merchant banks.
Non-TSA public sector deposits continue to face a 75 percent CRR, while the liquidity ratio (LR) remains at 30 percent.
The asymmetric corridor was adjusted to +50/-450 basis points around the MPR, providing flexibility in interbank lending.
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