The Central Bank of Nigeria has announced an increase in its Monetary Policy rate to 18 per cent.
This was during its its 290th Monetary Policy Committee Press Briefing by the Governor, CBN, Mr. Godwin Emefiele.
The Monetary Policy Committee of the Central Bank of Nigeria votes to raise Monitory Policy Rate by 50 basis points from 17.5 per cent to 18% per cent.
Meanwhile, Cash Reserve Ratio is still retained at 32.5%.
Also, Liquidity Ratio is retained at 30.0 percent and Asymmetry Corridor at +100/-700 basis points around the Monetary Policy Rate.
Details later…
