CBN retain MPR at 13.5%, raise CRR to 27.5%

The Central Bank has raised the Cash Reserve Ratio from 22.5% to 27.5%

CBN Governor, Godwin Emefiele made this disclosure at the end of the first Monetary Policy Committee meeting held in Abuja.

He, however, noted that all other parameters were retained.

The Monetary Policy Rate stood at 13.5% with an asymmetric corridor of +200/-500 basis points. Liquidity Ratio was static at 30%.