Nigeria’s MPC maintains status quo key rates

At the end of its two-day policy meeting, nine out of 10 members of the Monetary Policy Committee (MPC) in attendance voted to leave key monetary policy rates unchanged. The Committee decided to: Retain Monetary Policy Rate (MPR) at 14.0%; Maintain the asymmetric corridor around the MPR at +200/-500 basis points (bpbs); Hold Cash Reserves Ratio (CRR) at 22.5%; and Keep liquidity ratio at 30.0%.