The Bankers Committee and the Central Bank of Nigeria (CBN) have agreed to go nationwide with the cashless policy as well as move the cash reserve ratio (CRR) on public sector deposits to 100 per cent if the foreign reserves weaken and there was not enough dollars to defend the […]
Tag: Monetary Policy Committee
CBN Communiqué No. 93 of the Monetary Policy Committee Meeting of Monday 20 and Tuesday 21 January, 2014
The Monetary Policy Committee (MPC) met on January 20 and 21, 2014 against the backdrop of uncertainties in the global economy, especially arising from the commencement of the QE3 tapering by the Fed. In attendance were eight (8) out of the ten (10) members following the retirement of Mr. Tunde […]
South Africa’s central bank hikes key rate to 5.5%
South Africa’s central bank raised its key interest rate to 5.5 percent on Wednesday as concerns grew over its weakening currency amid an emerging market rout. The bank hiked its key interest rate – the rate at which it lends to commercial banks – 50 basis points (bps) to 5.5 […]
