The Monetary Policy Committee (MPC) at its 304th meeting voted on policy parameters as follows:
• Monetary Policy Rate (MPR): Reduced by 50 basis points from 27% to 26.5%.
• Cash Reserve Ratio (CRR): Retained at 45% for Commercial Banks and retained at 16% for Merchant Banks.
• Liquidity Ratio (LR): Retained at 30%
• Standing Facilities Corridor: retained at +50 / -450 basis points around the MPR
#PressBriefing
#MPC