The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has decided to increase the Monetary Policy Rate (MPR) by 50 basis points, raising it from 26.75% to 27.25%.
Additionally, the Cash Reserve Ratio (CRR) has been elevated by 50 basis points, increasing the requirement for Deposit Money Banks (DMBs) from 45% to 50%, and for Merchant Banks from 14% to 16%.
The committee has decided to maintain the Liquidity Ratio (LR) at 30% and the Asymmetric Corridor at +500/-100 basis points in relation to the Monetary Policy Rate (MPR).
