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By Adanna Nnamani, Abuja
The Central Bank of Nigeria (CBN) has voted to hold all key monetary policy rates, setting the Monetary Policy Rate (MPR) at 27.5%, following a 25-basis-point increase from 27.25%.
The decision was announced by CBN Governor, Yemi Cardoso, during a press briefing following the Monetary Policy Committee (MPC) meeting in Abuja on Thursday.
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The apex bank also retained the asymmetric corridor around the MPR at +500/-100 basis points. Additionally, the Cash Reserve Ratio (CRR) for Deposit Money Banks was maintained at 50%, while Merchant Banks will continue to operate with a CRR of 16%.
The Liquidity Ratio also remains unchanged at 30%.
