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MPC: CBN remains hawkish
(Source: CardinalStone Research, Date: 26-Mar-2024)

CBN remains hawkish 

After the 2 days of monetary policy meeting, the CBN further ramped up tightening measures to rein inflation, reaching the following conclusions.


  • The policy rate was hiked +200bps to 24.75%. 
  • Retain CRR at 45.0%.
  • Increase merchant bank CRR from 10.0% to 14.0%.
  • The asymmetric corridor was adjusted to +100bps/-300bps from +100bps/-700bps.
  • Retain Liquidity ratio constant at 30.0%.

Regards,


CardinalStone Research

research@cardinalstone.com

CardinalStone Research 
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                       Nigeria

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