By Evans CHARLES InvestAdvocate
Lagos (INVESTADVOCATE)-The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday decided to retain Nigeria’s Monetary Policy Rate (MPR) at 11.5 percent.
Similarly, the MPC retained the Cash Reserve Ratio (CRR) at 27.50 percent and the liquidity ratio at 30 percent.
While the asymmetric corridor remained at to +100/-700 basis points around the MPR; coming on the heels of MPC of the CBN concluded after a two-day meeting in May 2021.
The decisions reached are as follows:
- The benchmark interest rate (MPR) retained at 11.50%
- The asymmetric corridor remained at to +100/-700 bps around the MPR
- The cash reserve ratio retained at 27.50%; and
- The Liquidity Ratio retained at 30.00%
