CBN MPC retains MPR at 12.5 per cent, CRR at 27.50 per cent

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The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) at the 274th meeting agreed to retain Monetary Policy Rate (MPR) at 12.5 per cent.

The apex bank Governor, Mr. Godwin Emefiele, stated this on Monday at a press briefing on the outcomes of the Monetary Policy Committee (MPC) meeting.

Emefiele said the MPC also retained Cash Reserve Ratio (CRR) at 27.50 per cent, while liquidity ratio was pegged at 30 per cent.

He said the MPC retained Asymmetric Window at +200 and -500 basis points around the MPR.

The CBN Governor added Nigerian banking sector remainef strong and resilient through adherence to prudential guidelines.

Emefiele said the apex bank was committed to keeping companies afloat due to the impact of the COVID-19 pandemic.

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