Central Bank of Nigeria holds its third MPC meeting

The Central Bank of Nigeria’s Monetary Policy Committee (MPC) is holding its third meeting in 2018.

At its meeting in May 2018, the MPC maintained the Monetary Policy Rate (MPR) at 14%, with the asymmetric corridor at +200 and -500 basis points around the MPR; it retained the Cash Reserve Ratio (CRR) and Liquidity Ratio (LR) at 22.50% and 30% respectively.

Among other issues, deliberations are ongoing as to whether to reduce rates, hold, or increase.

Details of the outcome of the meeting will be communicated shortly…