CBN raises monetary policy rate to 12%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) to 12% from 11%.

This is an outcome of its two-day meeting which started on Monday, March 21, 2016, in Abuja, the nation’s capital; the second for the year 2016.

At the last meeting in January, the MPC maintained the monetary policy rate, the cash reserve requirement, and the liquidity ratio at 11%, 20% and 30%,

respectively.