Nigeria MPC keeps MPR unchanged to 27.5%

The Monetary Policy Committee of the Central Bank of Nigeria has retained the monetary policy rate at 27.25 per cent stating that the inflation is showing significant slowdown. After a 2-day monetary policy meeting, the committee further retained the asymmetric corridor around the MPR at +500bps/-100bps, the CRR for deposit money banks at 50 per cent, the CRR for merchant banks at 16 per cent and retained the liquidity ratio at 30 per cent.