CBN holds the Monetary Policy Rate (MPR) at 27%, signalling its determination to continue battling inflation.
In Abuja, the Monetary Policy Committee (MPC) gathered for its 303rd meeting and, after careful discussion, members decided to keep key policy measures unchanged, prioritising long-term stability over short-term relief.
CBN Tackling Rising Prices
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The central bank maintains the benchmark rate to guide borrowing and lending across the economy while it tackles rising prices.
Moreover, by holding a firm stance, the CBN aims to stabilise the foreign exchange market and reassure investors, reinforcing its role as a steadying force in uncertain economic times.
The CBN keeps the MPR elevated as it pursues aggressive measures to curb inflation and restore investor confidence.
MPC Key Decisions:
- The committee retained the Monetary Policy Rate (MPR) at 27.00%
- It kept the Cash Reserve Ratio (CRR) at 45.00% for Deposit Money Banks and 16.00% for Merchant Banks
- It maintained 75% CRR on Non-TSA public sector deposits
- It left the Liquidity Ratio (LR) unchanged at 30.0%
- It adjusted the Asymmetric Corridor to +50/-450 basis points around the MPR
More Details Later……
