By Anastasia John E
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted unanimously to keep the country’s interest rate at 27.50% for the second consecutive time this year.
During a press briefing on Tuesday, CBN Governor Olayemi Cardoso announced that the MPC also decided to retain the Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks. Additionally, the Committee maintained the Liquidity Ratio (LR) at 30% and the Asymmetric Corridor at +500/-100 basis points around the Monetary Policy Rate (MPR).
This decision follows six consecutive rate hikes recorded in 2024, signaling a cautious approach to monetary policy in 2025.
Further details will be provided shortly.
