CBN cuts key interest rate to 13.5%   

March 26 (Lagos) - Reduce the MPR by 50bps to 13.50%

-          Retain CRR at 22.5%

-          Retain Liquidity ratio at 30%

-          Maintain an asymmetric corridor at +200/–500 basis points around the MPR.


Key considerations of the committee included:

-          Lowered global economic growth outlook for 2019

-          Reversal to dovish monetary policy stance by the U.S. Federal Reserve Bank

-          Need to support domestic economic growth and employment

-          Gradual growth of the FX reserves

-          Gradual decline in headline inflation

reporting for on Tuesday, March 26 2019 from Lagos, Nigeria
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