2023-07-25 | MPD/DIR/INT/MPC/003/077

Central Bank of Nigeria Communique No.149 of the Monetary Policy Committee Meeting held on Monday 24th and Tuesday 25th July 2023

The Monetary Policy Committee of the Central Bank of Nigeria met on July 24-25, 2023, to discuss the economy and monetary policy. The committee assessed global and domestic economic developments, including geopolitical tensions, inflation, and output growth. The Nigerian economy faces challenges due to rising inflation, insecurity, and pressure in the foreign exchange market. The committee decided to raise the Monetary Policy Rate by 25 basis points to 18.75%, adjust the asymmetric corridor, and retain the Cash Reserve Ratio and Liquidity Ratio.

Nigeria

Central Bank of Nigeria

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