CBN retains interest rate at 26.50%

The Central Bank of Nigeria, CBN, has retained the country’s Monetary Policy Rate, MPR, astatine 26.50 percent.

The apex slope governor, Olayemi Cardoso, disclosed this during a property briefing astatine the extremity of the 305th Monetary Policy Committee, MPC, gathering successful Abuja on Wednesday.

Cardoso said the determination was unanimously agreed connected by each the MPC members.

He noted the committee retained the Cash Reserve Ratio, CRR, astatine 45 percent for commercialized banks and 16 percent for merchant banks, portion the 75 percent CRR connected non-TSA nationalist assemblage deposits was maintained.

Cardoso stated that the liquidity ratio was retained astatine 30 percent, and the lasting facilities corridor was adjusted to +50/-450 ground points astir the monetary argumentation rate.

A caller survey by the CBN showed that the bulk of Nigerians privation the country’s involvement complaint cut.

The improvement comes arsenic the country’s ostentation roseate some successful April and March to 15.69 percent and 15.38 percent, respectively.

Recall that MPC chopped the complaint by 50 ground points during...