MPC Reduces MPR by 50bps to 26.50%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at today’s policy meeting, voted to:

1. Reduce the MPR by 50bps to 26.50% (Previous: 27.00%)
2. Retain the asymmetric corridor around the MPR at +50bps/-450bps
3. Retain the CRR for Deposit Money Banks at 45.0%, and  Merchant Banks at 16.0%
4. Retain the 75.0% CRR on non-Treasury Single Account (TSA) public sector deposits
5. Retain liquidity rate at 30.0%

Cordros