News Editor
By Our Correspondent
The Central Bank of Nigeria, CBN, has retained its benchmark interest rate at 27.5%.of it’s Monetary Policy Rate, MPR,
Governor CBN, Mr. Olayemi Cardoso disclosed this at the end of the Monetary Policy Committee meeting of the apex bank.
According to the CBN governor, “The committee was unanimous in its decision to hold all parameters, and thus decided as follows, retain the MPR at 27.50%, retain the asymmetric corridor around the MPR at plus 500 to minus 100 basis points.
Retain the Cash Reserve Ratio of Deposit Money Banks at 50% and merchant banks at 16% and four retain the Liquidity Ratio at 30%.”
