Regulatory Alerts2024-03-26 | CBN/MPC/COM/151/294Central Bank of Nigeria Communique No.151 of the 294th Meeting of Monetary Policy Committee held on Tuesday, 26th March, 2024
The Monetary Policy Committee of the Central Bank of Nigeria raised the Monetary Policy Rate to 24.75% from 22.75% while adjusting the asymmetric corridor and retaining the Cash Reserve Ratio for Deposit Money Banks. This decision was made to address inflationary pressures, stabilize exchange rates, and restore the purchasing power of Nigerians.
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