The MPC retain the Monetary Policy Rate (MPR) at 27.5%, following its 300th Monetary Policy Committee (MPC) meeting held in Abuja.

This was disclosed by the apex bank’s Governor Olayemi Cardoso during the post-MPC press briefing on Tuesday.

According to Cardoso, consideration is to enable a better understanding of near-term developments.”

The CBN highlighted the recent moderation in Nigeria’s inflation rate, which eased to 23.71% in April 20& 25 from 24.23% in March, according to the latest data from the National Bureau of Statistics.

Key i decisions Of the MPC:

*Retain the MPR at 27.50 per cent

*Retain the asymmetric corridor around the MPR at +500/-100 basis points

*Retain the Cash Reserve Ratio of Deposit Money Banks at 50.00 per cent and Merchant Banks at 16 per cent

Retain the Liquidity Ratio at 30.00 per cent

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