Macro Report: Nigeria’s MPC raises Rates by 50bps to 27.25%

At the end of the Monetary Policy Committee meeting held on September 23rd & 24th, the committee voted to:

• Raise the MPR by 50bps to 27.25%.
• Retain the asymmetric corridor at +500/-100 around the MPR.
• Raise the CRR of Deposit Money banks by 500bps to 50% from 45%
• Raise the CRR of Merchant Banks by 200bps to 16% from 14%
• Hold the liquidity ratio constant at 30.00%.

Details later