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MPC retains all parameters constant at maiden session of the year
(Source: CardinalStone Research, Date: 26-Jan-2021)

MPC holds all parameters constant


January 26, 2021


The Monetary Policy Committee (MPC) recently concluded its two-day policy meeting today, 26th January 2021. The committee resolved to hold the monetary policy rate and all other policy parameters constant. We highlight that the HOLD decision is consistent with CBN's disposition to take a wait and see approach at their annual inaugural meeting. The apex bank has held its policy rate steady in all maiden MPC sessions under the current CBN governor.


The key policy decisions are as follows: 


·     The benchmark interest rate (MPR) was held at 11.50%


·     The asymmetric corridor remained at to +100/-700 bps around the MPR

·     The cash reserve ratio held at 27.50%


·     The Liquidity Ratio retained at 30.00% 




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As to each security or issuer mentioned in this report, the respective primary research analyst(s) covering that security or issuer hereby certify that their views about the issuers and their securities discussed in this report are accurately expressed and that they have not received and will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this report.

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