The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 per cent following the conclusion of the 306th meeting of its Monetary Policy Committee (MPC)….
The decision means the apex bank is maintaining its tight monetary policy stance as it continues efforts to curb inflation and stabilise the economy.
The MPC also retained the asymmetric corridor around the Monetary Policy Rate at +50 and -450 basis points.
In addition, the committee left the Cash Reserve Ratio (CRR) unchanged at 45 per cent for Deposit Money Banks, 16 per cent for Merchant Banks, and 75 per cent for non-Treasury Single Account (non-TSA) public sector deposits.
The latest decision signals the committee’s preference to keep existing monetary policy measures in place while monitoring developments in inflation, exchange rate stability and broader macroeconomic conditions.
The outcome of the meeting was announced by the Central Bank of Nigeria after the conclusion of the MPC’s 306th session.
