2022-11-22 | MPD/MPC/INT/MPC/002/11

Central Bank of Nigeria Communique No. 145 of the 288th Monetary Policy Committee Meeting Held on Monday 21st and Tuesday 22nd November 2022

The Monetary Policy Committee of the Central Bank of Nigeria met to discuss the country's economic situation, which is facing challenges due to global factors such as rising energy prices and supply chain issues. The committee decided to raise the Monetary Policy Rate by 100 basis points to 16.5%, while retaining the Cash Reserve Ratio and Liquidity Ratio at 32.5% and 30%, respectively. This decision was made to address rising inflation, which reached 21.09% in October 2022, and to improve market sentiment and investor confidence.

Nigeria

Central Bank of Nigeria

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