Share!
The Central Bank of Nigeria (CBN) has decided to hold steady on interest rates, retaining the Monetary Policy Rate (MPR) at 27.5%.
This decision was announced by CBN Governor, Olayemi Cardoso, after the apex bank’s 299th Monetary Policy Committee (MPC) meeting in Abuja.
The MPC chose to maintain the asymmetric corridor around the MPR at Monetary Policy Committee to -100 basis points.
Additionally, the Cash Reserve Ratio (CRR) for deposit money banks remains at 27%, while merchant banks retain a CRR of 16%. The Liquidity Ratio also stays steady at 30%.
This decision comes as the National Bureau of Statistics (NBS) reports a significant drop in headline inflation rate, which fell by 10.32 percentage points to 24.48% in January 2025 from 34.8% in December 2024, following the rebasing of the Consumer Price Index (CPI).
Recall, the MPC meeting was rescheduled twice to ensure sufficient data and information were gathered before making a decision.
No related posts.
