BREAKING: CBN’s MPC members hike MPR to 22.75%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its first meeting of 2024 voted to raise Monetary Policy Rate (MPR) by 400 basis points to 22.75per cent from 18.75 per cent.

The members after the two-day meeting in Abuja increase the asymmetric corridor to +100 basis points /-700 basis points (Previously: +100 basis points /-300 basis points).

The members also voted to increase increase CRR to 45.0per cent from  32.5 per cent; and retain liquidity rate at 30per cent.

…more details later