The Central Bank of Nigeria’s Monetary Policy Committee meeting has retained the country’s interest rate at 27.50 percent.
The Governor of the apex bank, Olayemi Cardoso, made this known on Tuesday at the end of the 301st MPC meeting in Abuja.
Cardoso stated that all members of the MPC agreed unanimously to maintain the interest rate amid sustained moderation in the inflation rate, which stood at 22.22 percent in July.
MPC also retained the Cash Reserve Ratio (CRR) at 50 percent for Deposit Money Banks and 16 percent for Merchant Banks.
The committee retains the liquidity ratio (LR) at 30 percent and the asymmetric corridor at +500/-100 basis points around the MPR.
This comes after the apex MPC consecutively retained interest at 27.50 percent in February and May.
