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MPC: CBN increases key rate by 150bps
(Source: CardinalStone Research, Date: 21-May-2024)

CBN increases key rate by 150bps

After a 2-day monetary policy meeting, the CBN further ramped up tightening measures to rein in inflation, reaching the following conclusions.

  • The policy rate was hiked +150bps to 26.25%. 
  • Retain CRR for deposit money bank at 45.0%.
  • Retain asymmetric corridor at +100bps/-300bps
  • Retain Liquidity ratio constant at 30.0%


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