The Monetary Policy Committee (MPC) concluded its two-day policy meeting today. The committee agreed to raise the cash reserve ratio to 27.5% (from the previous rate of 22.5%) while holding all other policy parameters constant as follows;
- The benchmark interest rate (MPR) was held at 13.50%
- The asymmetric corridor retained at +200bps and -500bps around the MPR
- The Liquidity Ratio retained at 30.00%