MON 21 MARCH, 2022-theGBJournal| In line with analysts’ expectations, the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC), in their second meeting of the year, retained the Monetary Policy Rate (MPR) at 11.5% alongside other monetary policy parameters.
The cash reserve requirement remains at 27.5% and liquidity ratio at 30% with asymmetric window of +100 basis pts and -700 basis pts around MPR.
As expected, the Committee examined the global economy’s health within the context of withdrawal of monetary stimulus by global central banks amid the ongoing spat between Russia and Ukraine and struck a hawkish tone.
The Committee leaned towards an accommodative monetary policy stance predicated on the need to fully realise gains from previous policy actions geared towards boosting economic recovery.
The policy rates was announced today by the CBN Governor Godwin Emefiele.
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