CBN maintains interest rates at 27%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has maintained the current interest rates at 27 per cent

Central Bank governor, Olayemi Cardoso, made the announcement while briefing the press at the end of the 303rd meeting of the MPC in Abuja on Tuesday

The governor stated that all 12 members of the committee were in attendance and voted unanimously to maintain the monetary policy rates

“The committee decided to maintain monetary MPR at 27 per cent, adjust the standing facility corridor around MPR +50 and -450 basis point.”

“Also, CRR is maintained 45 for Merchant banks and 75 per cent for non TSA public sector deposits while liquity ratio is maintained at 30 per cent,” he said

Cardoso added that the decision of the Committee was as a result of low and stable inflation recorded in the country.

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