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BREAKING: MPC raises interest rate by 200bps to 24.75% | InfoWARE Finance

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BREAKING: MPC raises interest rate by 200bps to 24.75%
(Source: Securities Africa Nigeria Research, Date: 27-Mar-2024)

INVESTMENTS Nigerian Economy Monetary Policy Rate SECURITIES AFRICA RESEARCH & CAPITAL MARKETS Nigeria

 

 

Dear Esteemed Investor,

 

The Monetary Policy Committee of the Central Bank of Nigeria's two-day meeting for March 2024 comes to an end today. This meeting will serve as the 294th CBN meeting as well as the second MPC meeting of 2024.

 

At the conclusion of the meeting today, the MPC decided to:

 

·         Raise the MPR by 200 basis points to 24.75 from 22.75 per cent

·         Increase the asymmetric corridor to +100bps/-300 bps

·         Retain the Cash Reserve Ratio of Deposit Money Banks at 45 percent and adjust the CRR of Merchant banks from 10 percent to 14 per cent.

·         Retains a liquidity ratio of 13 per cent

 

The next MPC will take place on May 20 and 21, 2024.

 

 

 

 

Kind regards,

 

cid:image001.png@01D12B69.55105830

 

Securities Africa Financial Limited | 5th Floor Skye Bank Building | 30 Marina | Lagos | Nigeria

Main:+234 (909) 440 4638  |
Email: researchng@securitiesafrica.com | Web: www.securitiesafricang.com

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