Nigeria’s MPC Retains MPR at 13.5%, Raises CRR to 27.5% from 22.5%

Godwin Emefiele, Governor, Central Bank of Nigeria

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.

Details later

                      

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