CBN Raises MPR to 27.5% Amid Persistent Inflation

The apex bank, which cited the continued inflationary environment and the need to achieve price stability for the hike, however, retained other monetary policy tools, including the asymmetric corridor around the MPR at +500/-100 basis points, Cash Reserve Ratio of Deposit Money Banks at 50 per cent and Merchant Banks at 16 per cent as well as the Liquidity Ratio at 30 per cent.

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