January 24, 2020
By Paschal IJEH InvestAdvocate
Lagos (INVESTADVOCATE)-In line with expectations, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) maintained status quo at the end of its meeting on Friday and Retain the Monetary Policy Rate (MPR) at 13.5 percent.
Monetary Policy Committee increased the Cash Reserve Ratio (CRR) to 27.5 percent from 22.5 percent previously, indicating a hike of 22.22 percent.
Other resolutions are that the Committee retained the Liquidity Ratio at 30.0 percent and the Asymmetric Window at +200 and -500 basis points around the MPR.