Tuesday, March 22, 2016 3:15PM /Cardinal Stone Research
The Monetary Policy Committee (MPC) meeting has just been concluded with key policy decisions as follows:
• The benchmark interest rate (MPR) increased by 100bps from 11% to 12% with the asymmetric corridor adjusted to +200bps and -500bps (previously: +200bps and -700bps);
• The Cash Reserve Ratio (CRR) increased from 20% to 22.5%; and
• The Liquidity Ratio retained at 30%
There was no clear decision on the exchange rate policy.