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The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its 304th meeting voted to cut its Monetary Policy Rate (MPR) by 50 basis points (bps) from 27% to 26.5%.
The Cash Reserve Ratio (CRR) was retained at 45% for Commercial Banks and retained at 16% for Merchant Banks, while the Liquidity Ratio (LR) was retained at 30%.
The Standing Facilities Corridor was retained at +50 / -450 basis points around the MPR.
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 at its 304th meeting voted to cut its Monetary Policy Rate (MPR) by 50 basis points to 26.5%){kind=link}