2024-06-21 | MPD/MPC/INT/MPP/005/035

Personal Statements of Members for the 295th Meeting of the Monetary Policy Committee

The Monetary Policy Committee of the Central Bank of Nigeria raised the Monetary Policy Rate to 26.25% from 24.75% to curb inflation and maintain price stability. The decision was influenced by rising global inflation, economic growth projections, and domestic factors such as exchange rate fluctuations and security challenges. The committee also retained the Cash Reserve Ratio and Liquidity Ratio at 45% and 30%, respectively.

Nigeria

Central Bank of Nigeria

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