CBN Retains Interest Rate at 26.5%

The Monetary Policy Committee of the Central Bank of Nigeria on Wednesday retained the benchmark Monetary Policy Rate at 26.5 per cent at the end of its 305th meeting.

The committee also retained the Cash Reserve Ratio at 45 per cent for commercial banks and 16 per cent for merchant banks, while non-Treasury Single Account (non-TSA) public sector deposits remain at 75 per cent CRR.

The standing lending and deposit facility corridor was also left unchanged at +500 and -100 basis points around the MPR.