Azàland

The CBN governor said the committee raised the MPR by 400 basis points to 22.75 percent, and adjusted the asymmetric corridor at +100 and -700 basis points from +100 basis points and -300 basis points around the MPR.
CBN governor Yemi Cardoso disclosed the decision of the meeting, the first since his announcement as the apex bank governor.

He said the move was in a bit to tame the stubborn inflation that had not responded much to the previous marginal increase.

Cardoso said the committee also increased the cash reserve ratio (CRR) from 32.5 percent to 45 percent, while retaining the liquidity rate at 30 percent.

On inflation, he said the rate of change i…

Please login to view the rest of this post.