CBN MPC Retains MPR and Liquidity Ratio; Raises CRR to 27.5% In First Meeting of 2020

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Friday, January 24, 2020 / 4:23 PM / News / Header Image Credit: Youtube, CNBC Africa

 

The CBN Monetary Policy Committee (MPC) has just concluded its two-day policy meeting.


At the end of the meeting, the committee decided to raise the cash reserve ratio (CRR) to 27.5% from the previous rate of 22.5% while holding all other policy rates constant as follows;

  • The benchmark interest rate (MPR) was held at 13.50%

  • The asymmetric corridor retained at +200bps and -500bps around the MPR

  • The Liquidity Ratio retained at 30.00% 

 

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