Finance & EconomyNews

MPC May Hike Rate

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria  yesterday  concluded the first days of its two-day meeting in March 2022 which  marks the second MPC meeting for the year 2022.

In line with analysts expectation, the Monetary Policy Committee (MPC) at the end of today’s meeting elected by a vote 6 out of 10 members to retain all policy parameters as follows:the benchmark interest rate (MPR) retained at 11.50% The asymmetric corridor remained at to +100/-700 bps around the MPR, the cash reserve ratio retained at 27.50%; and the Liquidity Ratio retained at 30.00%

Furthermore, economic analysts are of the view that the disposition of the CBN suggests a possible rate hike in H2’22 as 3 members voted for a 25bps rate hike and 1 voted for a 50bps increase

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