CBN reduces MPR from 12.5% to 11.5%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to reduce the Monetary policy rate (MPR) from 12.5% to 11.5%.

This was disclosed by Governor, CBN, Godwin Emefiele while reading the communique at the end of the MPC meeting on Tuesday, September 22, 2020.

The committee retained CRR at 27.5% stating that the recent inflationary pressures is not driven by monetary policies, rather as a result of structural policies.

Highlights of the Committee’s decision:

1. Reduce the MPR by 100 basis points from 12.5% to 11.5%

2. Adjust asymmetric corridor from +200/-500 to

3. Retain CRR at 27.5%

4. retain liquidity ratio at 30%

5. Explore the Nairametrics Research Website for Economic and Financial Data

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