CBN Governor, Cardoso
News Update
THE Central Bank of Nigeria (CBN) has decided to keep the Monetary Policy Rate (MPR) unchanged at 27.5%.
This announcement was made by the CBN Governor, Olayemi Cardoso, following the 300th meeting of the Monetary Policy Committee (MPC), which took place in Abuja.
All 12 members of the committee agreed on the decision.
In addition to the interest rate, the committee also maintained other key financial indicators.
The cash reserve ratio for regular banks stays at 50%, while merchant banks will continue with a 16% reserve.
The liquidity ratio for banks remains at 30%.
Governor Cardoso explained that the decision to maintain these rates was influenced by a recent slowdown in food inflation and progress in addressing insecurity, particularly in farming areas.
These factors have contributed to a more stable economic outlook, and the CBN believes that holding the rates steady will help support continued improvement.
YOU CAN READ MORE NEWS UPDATES AND INFO @ https://www.voiceairmedia.com
News Update President Bola Tinubu has approved twenty-one fresh appointments across the National Agricultural Development…
News Update THE All Progressives Congress (APC) has disqualified the former deputy governor and one…
News Update THE Supreme Court on Friday struck out a suit filed by the Osun…
The UK Conservative Party has urged the NHS to drop its disciplinary action against an NHS nurse who…
News Update Sixteen members of the Rivers state house of assembly have announced their defection…
The Nigerian Army has rescued 10 women who were kidnapped from their farms in Sanga…