CBN Maintains Status Quo on Policy Rates
The Central Bank of Nigeria (CBN) monetary policy committee (MPC) maintained the status quo on rates at the end of a two-day meeting on Wednesday.
The monetary policy rate (MPR) is retained at 26.50% amid rising headline inflation in Africa’s third-largest economy. The committee retained the asymmetric corridor around the MPR at +50 basis points/-450 basis points.
The CBN also retained the cash reserve ratio (CRR) for commercial banks at 45.00% and for merchant banks at 16.00%. The monetary authority retained the 75.00% CRR on Non-TSA public sector deposits.










