CBN raises interest rate to 26.25% - NEWS FRONTIER DAILY


Tuesday, May 21, 2024

CBN raises interest rate to 26.25%

The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate by 150  basis points to 26.25 Per cent  from  24.75 percent. 

Briefing the press on the outcome of the 295th Monetary Policy Committee (MPC) meeting in Abuja,  the Governor of CBN, Mr. Olayemi Cardososo, also announced  that the committee retained  the asymmetric corridor of +100/-300 basis points.

Similarly the MPC retained the Cash Reserve Ratio (CRR) of Deposit Money Banks at 45 percent, and the Liquidity Ratio at 30 per cent.

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