The Monetary Policy Committee (MPC) meeting that was held on the 20th and 21st of May has just been concluded with committee retaining the monetary policy rate (MPR) at 13.5%, the CBN Governor told reporters in Abuja. It will recalled that the regulator in March cut its key rate, the first in three years.
The major decisions of the committee at todays meeting are:
- The benchmark interest rate (MPR) was held at 13.50%
- The asymmetric corridor retained at +200bps and -500bps around the MPR
- The Cash Reserve Ratio (CRR) retained at 22.50% and;
- The Liquidity Ratio retained at 30.00%