CBN Governor, Yemi Cardoso
Central Bank of Nigeria (CBN) has maintained its Monetary Policy Rate (MPR) at 27.5%.
CBN Governor Yemi Cardoso, announced this on Tuesday during a press briefing in Abuja following the 301st Monetary Policy Committee (MPC) meeting.
Cardoso revealed that the decision to keep the lending rate unchanged was unanimous among all 12 MPC members.
“The committee voted to retain all key monetary parameters to ensure stability,” he said.
This includes maintaining the cash reserve ratio at 50% for deposit money banks and 16% for merchant banks, the liquidity ratio at 30%, and the asymmetric corridor at +500/-100 basis points around the MPR.
According to the News Agency of Nigeria, this marks the third consecutive MPC meeting where the CBN has opted to hold these rates steady, reflecting a cautious approach to monetary policy amid ongoing economic considerations.
