Monetary Policy Committee lowers MPR to 12.5%

The Monetary Policy Committee (MPC) concluded its two-day policy meeting today.

Considering the impacts of external economic shocks, the committee unanimously agreed to reduce the monetary policy rate while holding on all policy parameters constant. This means that the:

• The benchmark interest rate (MPR) was reduced to 12.50%

• The cash reserve ratio held at 27.50%

• The asymmetric corridor retained at +200bps and -500bps around the MPR

• The Liquidity Ratio retained at 30.00%