The Central Bank of Nigeria’s monetary policy committee has voted to hold the monetary policy rate at 27.25 per cent

Addressing the press at the end of its 2-day meeting in Abuja yesterday, the CBN Governor, Yemi Cardoso, said the committee also retained the asymmetric corridor around the MPR at +500/-100 basis points, Cash Reserve Ratio of Deposit Money Banks at 50.00 per cent, Merchant Banks at 16 per cent, and Liquidity Ratio at 30.00 per cent.

According to the MPC communique, the decision to maintain rates was driven by “recent macroeconomic indicators that suggest improved market stability”, particularly in the foreign exchange market and inflation trends.