Central Bank retains Monetary Policy Rate at 27%

The Monetary Policy Committee (MPC) of the Central bank of Nigeria met today to consider key economic decisions. All 12 members of the committee were in attendance and they unanimously approved retaining the monetary policy rate at 27%. Other key decision reached by the MPC are:

• The MPC retained Monetary Policy Rate at  27.00% 
• The asymmetric corridor around the MPR was adjusted to +50bps /-450bps from +250bps/-250bps
• The  Cash Reserve Ratio for Deposit Money Banks was retained at 45.00%
• CRR for Merchant Banks was retained at 16.00%.
• CRR  on Non-TSA Public Sector deposit was retained at 75%
• Liquidity ratio retained at 30.00%.