Abuja, Feb. 20, 2025 – The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 27.50%
The MPR is the nominal anchor of bank lending rates. It is the base on which banks base their lending rates.
Olayemi Cardoso, the Governor of apex bank, announced this on Thursday after the meeting of the Monetary Policy Committee (MPC) of the bank.
He said the committee members unanimously agreed to retain the rates.
Consequently, the MPR is retained at 27.50 percent with the asymmetric corridor around the MPR at +500/-100 basis points.
The MPC also retained the Cash Reserve Ratio of Deposit Money Banks at 50.00 per cent, Merchant Banks at 16 percent, and Liquidity Ratio at 30.00 percent. (GBN)
