The Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) has raised the Monetary Policy Rate(MPR) by four hundred basis points to 22.75 percent from 18.75 percent.
Governor of the CBN Yemi Cardoso announced this after the first MPC meeting for the year in Abuja on Tuesday.
The MPC also raised the Cash Reserve Ratio(CRR) to forty-five percent while the liquidity ratio was left unchanged at thirty percent.
More to follow…
