Updated: CBN eases MPR by 50 basis points to 26.5%

By Emma Ujah

The Central Bank of Nigeria (CBN) has eased the Monetary Policy Rate (MPR) by 50 basis points to 26.5%.

CBN Governor Olayemi Cardoso announced this on Tuesday after the meeting of the CBN’s Monetary Policy Committee.

The MPR serves as the baseline interest rate within the Nigerian economy.

Cardoso said the 11 MPC members present also voted to retain the Cash Reserve Ratio (CRR) at 45 per cent for commercial banks, 16 per cent for merchant banks, and 75 per cent for non‑TSA public sector deposits, maintaining current liquidity levels.

The CBN governor added that the Liquidity Ratio remained at 30 per cent, while the Standing Facilities Corridor was retained at +50/-450 basis points around the MPR to guide market stability and financial operations. 

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