CBN Retains Interest Rate at 26.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Wednesday retained all key monetary policy parameters at its 305th meeting, leaving the benchmark interest rate unchanged.
The committee maintained the Monetary Policy Rate (MPR), which serves as the benchmark interest rate, at 26.5 per cent.
It also retained the Cash Reserve Ratio (CRR) at 45 per cent for commercial banks and 16 per cent for merchant banks, while non-Treasury Single Account (non-TSA) public sector deposits will continue to attract a 75 per cent CRR.
In addition, the MPC left the standing lending facility and standing deposit facility corridor unchanged at +50 and -450 basis points around the MPR.
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