Regulatory Alerts2024-09-24 | CBN/MPC/COM/154/297Central Bank of Nigeria Communique No.154 of the 297th Meeting of Monetary Policy Committee held on Tuesday, 24th September, 2024
The Monetary Policy Committee of the Central Bank of Nigeria raised the Monetary Policy Rate to 27.25% from 26.75% and increased the Cash Reserve Ratio for banks to curb rising inflation and strengthen the Naira. The Committee also noted the need to work with fiscal authorities to address energy price pressures and monitor the impact of FAAC releases on liquidity and the exchange rate.