The Monetary Policy Committee of the Central Bank of Nigeria has decided to maintain the status quo regarding all the policy parameters.
This decision was taken by the Committee at its 301st meeting held Monday and Tuesday which was attended by the full complement of its 12 members.
The import of the retention of all parameters is that MPR stays at 27.50 per cent, asymmetric corridor +500/-100 basis points, Cash Reserve Ratio (CRR) for Deposit Money Banks (DMBs) 50%, Merchant Banks 16% and Liquidity Ratio at 30%.
It is noteworthy that this status has been maintained thrice consecutively thus far.
According to the Committee, the consideration behind this decision include the need to reduce price pressures in order to tone down inflation as well as maintain the stability in the banking sector by supporting the current recapitalisation exercise which is making steady progress, through appropriate regulation.