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Find all the economic and financial information on our Orishas Direct application to download on Play StoreIn an effort to contain inflationary pressures, the Monetary Policy Committee (MPC) of the ”, "Serif">Central Bank of Nigeria (CBN) raised the monetary policy rate (MPR) to 18.5% from 18% previously.
The Monetary Policy Committee (MPC) kept the Cash Reserve Ratio (CRR) unchanged at 32.5% and the liquidity ratio at 30%. It also retained the asymmetric corridor at +100/-700 basis points around the MPR. The CBN aims to influence borrowing costs, regulate liquidity, and encourage responsible lending practices. Against a background of soaring food prices, the inflation rate in Nigeria last week reached 22.22%
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