The Monetary Policy Committee of the Central Bank of Nigeria is set to convene next week for its periodic meeting.
The notice of the meeting, which was released by the apex bank on its website, said that the 275th meeting of the MPC is scheduled to hold on next Monday, September 21 and Tuesday, September 22, at CBN Headquarters, Abuja.
The Central Bank’s MPC meeting was last held in August, where all key rates were left unchanged.
Basically, the MPR was kept at 12.5%, while other parameters such as Cash Reserve Ratio at 27.5%, Liquidity ratio at 30%, and asymmetric corridor remained unchanged.
The MPC sets monetary policies for banks in the country through decisions on the Monetary Policy Rate, Cash Reserve Ratio and Liquidity ratio.
These variables determine the quantum of funds that the banks have at their disposal to lend.
