Other measures announced include the adjustment of the Cash Reserve Ratio (CRR) to 45 percent for Deposit Money Banks, retention of 16 percent for Merchant Banks, introduction of 75 percent CRR on non-TSA public sector deposits, retention of the Liquidity Ratio at 30 percent, and adjustment of the Asymmetric Corridor to +250/-250 basis points around the MPR.
Browsing: MPR
According to a report, he told his audience: “Our decision to raise the Monetary Policy Rate (MPR) to 27.25 percent was a bold move.
This was contained in a news release signed by the Chamber’s Director General, Dr. Chinyere Almona, on Friday.
Recall the CBN after its last Monetary Policy Committee meeting on February 27 raised the MPR by 400 basis points.
An economist, Prof. Pat Utomi, has said the likely retention of the Monetary Policy Rates for a while at 14 per cent was reasonable due to non-availability of pressure on the economy.
The Central Bank Governor, Godwin Emefiele, made this known at a news conference on Tuesday in Abuja on the outcome of the 263rd Monetary Policy Committee meeting.
Godwin Emefiele, Governor of the Central Bank of Nigeria, made this known at a news conference on Tuesday in Abuja on the outcome of the MPC meeting.