CBN Retains MPR at 11.50 Says Infrastructural, Security Challenges Outside Its Control

 

 

 

By Ayo Kehinde

 

 

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria, CBN, has kept all policy parameters unchanged after a meeting held at its third statutory meeting of fiscal 2021 on May 24, and 25, 2021.

The committee of the apex bank said that in line with the current happenings and realities facing the economy, it unanimously decided as follows to  retain MPR at 11.50 percent; retain the CRR at 27.50 percent; retain the Liquidity ratio at 30.00 percent;
and also retained the Asymmetric window to +100 basis point and -700 basis points, around the MPR.

The Committee noted that the security crisis and infrastructural challenges are issues outside the purview of the CBN, while it stated that the bank will continue mop up excess liquidity to manage inflation. The CBN Governor also stated that the Bank will continued to give concessionary loans to business that are expected to support output growth through its intervention funds to support the real sector of the economy.