The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to retain the benchmark interest rate at 26.5%, and other policy parameters constant.
CBN Governor, Mr Olayemi Cardoso, announced this shortly after the Committee’s 305th meeting on Wednesday in Abuja.
According to him, the Committee also voted to retain the Cash Reserve Ratio (CRR0 at 45% for Commercial Banks, 16% for Merchant Banks, and 75% for non-TSA public sector deposits, and Retained Standing Facilities Corridor: at +50 / -450 basis points around the MPR.
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