cbn statement, 2022-11-22
On the basis of persisting negative real interest rates, recent flooding that might worsen consumer prices, upcoming year-end festivities, and the need for consistency and credibility in the fight against inflation, I voted to raise the Monetary Policy Rate (MPR) to 16.5 per cent from 15.5 per cent, retain the Cash Reserve Ratio (CRR) to 32.5 per cent, the Liquidity Ratio (LR) at 30.0 per cent and the asymmetric corridor of +100/-700 basis points around the MPR, respectively.
Sentiment: rate_hike
Topic: mp_interest_rate