BREAKING: CBN Retains Interest Rate At 27%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday voted to retain Monetary Policy Rate (MPR) or interest rate at 27 per cent and adjust the asymmetric corridor around the MPR to +50bps/-450bps (previous: +250bps/-250bps).

The MPC members after the tw-day meeting in Abuja retain the CRR for Deposit Money Banks, Merchant Banks and non-Treasury Single Account (TSA) public sector deposits at 45per cent, 16per cent and 75per cent, respectively.

In addition, they voted to retain liquidity rate at 30 per cent.

more details shortly.