CBN raises interest rate to 26.25%

The Central Bank of Nigeria (CBN) hiked the Monetary Policy Rate by 150 basis points, to 26.25 percent from 24.75 percent.

Mr. Olayemi Cardososo, Governor of the bank, briefed the press on the outcome of the 295th Monetary Policy Committee (MPC) meeting in Abuja.

CBN

He also revealed that the committee retained the asymmetric corridor of +100/-300 basis points. Similarly, the MPC maintained the Cash Reserve Ratio (CRR) of Deposit Money Banks at 45% and the Liquidity Ratio at 30%.

Source: vanguardngr.com