CBN Increases Interest Rate To 26.25%
The Monetary Policy Rate has been increased by 150 basis points to 26.25 percent from 24.75 percent.
This was revealed during a press briefing by the governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso while giving an update on the outcome of the 295th Monetary Policy Committee (MPC) meeting in Abuja.
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Cardoso also announced that the committee retained the asymmetric corridor of +100/-300 basis points.
Similarly, the MPC retained the Cash Reserve Ratio (CRR) of Deposit Money Banks at 45 percent, and the Liquidity Ratio at 30 percent.
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