Regulatory Alerts2023-01-24 | MPD/DIR/INT/MPC/002/147Central Bank of Nigeria Communique No. 146 of The Monetary Policy Committee Meeting Held on Monday 23rd and Tuesday 24th January 2023
The Monetary Policy Committee of the Central Bank of Nigeria met in January 2023 to discuss the state of the global and domestic economy and determine the appropriate monetary policy actions. The committee expressed concern about the impact of the war in Ukraine, the possibility of another pandemic, and tightening global financial conditions on the global economy. In the domestic economy, the committee noted subdued output growth recovery and moderate inflation. The committee decided to raise the Monetary Policy Rate by 100 basis points to 17.5%, retain the asymmetric corridor of +/- 700 basis points around the MPR, retain the Cash Reserve Ratio at 32.5%, and retain the Liquidity Ratio at 30%.
Tags
monetary