Connect with us

    Hi, what are you looking for?

    E-Financial

    CBN Retains Benchmark Interest Rate at 27.5% After MPC Meeting

    CBN
    CBN

    Central Bank of Nigeria, CBN, has retained the Monetary Policy Rate, MPR, as its benchmark interest rate at 27.5%.Nigerian home decor ideas

    Governor of CBN, Olayemi Cardoso, disclosed this at the end of the Monetary Policy Committee (MPC) meeting of the apex bank.

    He said: “The committee was unanimous in its decision to hold all parameters and thus decided as follows: retain the MPR at 27.50%, retain the asymmetric corridor around the MPR at plus 500 to minus 100 basis points.

    “Retain the cash reserve ratio of deposit money banks at 50% and merchant banks at 16% and retain the liquidity ratio at 30%.”

     

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    E-Financial

    Polaris Bank, Nigeria’s leading digital retail, and commercial bank, on Tuesday hosted corporate customers in the non-oil sector at its Global Trade Forum. The...

    News

    Bill Gates, Chair of the Bill & Melinda Gates Foundation, has called on global leaders to make bold choices that could save millions of...

    News

    President Bola Tinubu has declared Nigeria’s ambition to host the 2030 Commonwealth Games a “dream” that must be realised, urging the international sporting body...

    News

    South Korea has opened a criminal trial for Kim Keon Hee, the wife of impeached former president Yoon Suk Yeol, marking the first time...