CBN 27.5% interest rate: The Central Bank of Nigeria (CBN) has maintained its benchmark interest rate, the Monetary Policy Rate (MPR), at 27.5%. This decision was announced by the CBN Governor, Olayemi Cardoso, following the conclusion of the Monetary Policy Committee (MPC) meeting.
Cardoso stated, “The committee unanimously agreed to keep all parameters unchanged. As a result, the following decisions were made: the MPR will remain at 27.50%, the asymmetric corridor around the MPR will stay at +500 to -100 basis points, the cash reserve ratio for deposit money banks will remain at 50%, for merchant banks at 16%, and the liquidity ratio will be retained at 30%.”
