Monetary Policy Committee explains rate hike to 26.25% - ITREALMS

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The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the Monetary Policy Rate (MPR) to 26.25 per cent, reports ITREALMS.

The Committee arising from its 295th meeting on the 20th and 21st of May 2024 to review recent economic and financial developments and assess risks to the outlook decided that to raise the MPR by 150 basis points to 26.25 per cent from 24.75 per cent; retain the asymmetric corridor around the MPR to +100/-300 basis points; retain the Cash Reserve Ratio of Deposit Money Banks at 45.00 per cent; and retain the Liquidity Ratio at 30.00 per cent.

MPC retains liquidity at 30% - ITREALMS

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The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Liquidity Ratio at 30 per cent., reports ITREALMS.

MPC in its February monthly meeting took this decision alongside three other items.

CBN: Cardoso set to host first MPC meeting - ITREALMS

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The Central Bank of Nigeria (CBN) has held a two-day strategic session for members of the Monetary Policy Committee (MPC) meeting, preparatory to their first meeting under the tenure of Mr. Olayemi Cardoso as Governor, scheduled for Monday, February 26 and Tuesday, February 27, 2024.

Confirming this in Abuja on Friday, January 19, 2024, to ITREALMS, the Acting Director, Corporate Communications Department, Mrs. Hakama Sidi Ali, said that the session aimed to brainstorm and engage in an in-depth discussion about the committee's objectives.