Pre-MPC Communiqué Sept 25-26, 2017: CBN to Retain MPR at 14%-Report

September 22, 2017/Access Bank Plc

Click here to download full PDF Copy of the Pre-MPC Communiqué

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria will hold its two-day meeting on Monday and Tuesday September 25 and 26, 2017. 

The major highlights of the Meeting are likely going to be:

  • Retain MPR at 14%, leaving the asymmetric corridor of +200 basis points and -500 basis unchanged: The positive growth recorded in Q2, supported by continued descent in inflation data, will likely encourage some of the MPC members to push for a more accommodative monetary policy stance. That said, the CBN will likely retain a relatively tight monetary policy stance to sustain FX stability.
  • Retain the Cash Reserve Requirement (CRR) at 22.5%.
  • Retain Liquidity Ratio at 30%.
  • Exchange rate: We anticipate no change in the FX policy stance by the CBN as the monetary regulator continues to evaluate the changes it has enacted since the beginning of the year.

Click here to download full PDF Copy of the Pre-MPC Communiqué

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