Business
Just in: CBN’s MPC raises MPR to 27.5%, retains other key policy rates
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to increase the Monetary Policy Rate (MPR) by 25 basis points to 27.5% from 27.25%, while keeping other key policy parameters unchanged.
CBN Governor, Yemi Cardoso, made the announcement during a press briefing held on Thursday, following the conclusion of the MPC meeting. The decision reflects the committee’s ongoing efforts to balance economic stability with inflationary pressures in the country.
READ ALSO: CBN faces policy dilemma amid inflation risks
As part of its resolutions, the MPC also: Retained the asymmetric corridor around the MPR at +500/-100 basis points.
Maintained the Cash Reserve Ratio (CRR) of Deposit Money Banks at 50.00% and that of Merchant Banks at 16.00%. Held the Liquidity Ratio steady at 30.00%.
The decision to slightly tighten the MPR is expected to influence inflationary trends and overall economic conditions, as the CBN continues to navigate the complexities of Nigeria’s financial landscape.
This is a developing story…
-
Latest4 days agoMakinde declares 2027 presidential bid under PDP–APM alliance
-
Business3 days agoNigeria: Whither the fruits of 2026 crude oil windfall?
-
Comments and Issues4 days agoPolitical Parties Primaries: Consensus or Coronation?
-
Business3 days agoTrump-Xi summit sparks fresh questions for Nigeria’s economy, tech sector
-
Featured4 days agoObasanjo faults Tinubu’s economic reforms, calls them necessary but poorly designed
-
Business5 days agoAnger, debate trail proposed $1.25bn loan amid concerns over Nigeria’s debt surge
-
Comments and Issues4 days agoDoes it matter to Africa if Nigel Farage comes to Number 10?
-
Latest4 days agoWike says Makinde’s presidential ambition dead on arrival