The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) today retained the Monetary Policy Rates (MPR) otherwise known as interest rates at 26.5 per cent
The apex bank gave the defence in Abuja today while addressing the media at the end of the 305th MPC meeting.
CBN governor, Olayemi Cardoso, who informed that the committee also retained standing facility corridor around MPR at +50 -450 basis point, added:
“The decision to retain was anchored on comprehensive assessment of risk to both global and domestic outlook, as the Committee notes that although inflation increased in last 2months due to global shocks, MPC has recognised its transitionary nature and its confident that macroeconomic environment will support return to disinflation.”
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“The Committee also retained cash reserve requirements at 45 per cent for commercial banks and 16% for merchant banks and non TSA public sector deposits at 75 %,” he added
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