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B-R-E-A-K-I-N-G: CBN reduces public sector CRR to 31%

The CBN governor has just announced that the monetary policy committee as announced it is reducing Public Sector CRR from 75% to 31%. It consequently, increase private sector CRR from 20% to 31% The CBN MPC also agreed to hold benchmark interest rate unchanged at 13%. Liquidity ratio was left at 30% This is the last […]

Nairametrics

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B-R-E-A-K-I-N-G: CBN reduces public sector CRR to 31%
  • The CBN governor has just announced that the monetary policy committee as announced it is reducing Public Sector CRR from 75% to 31%.
  • It consequently, increase private sector CRR from 20% to 31%
  • The CBN MPC also agreed to hold benchmark interest rate unchanged at 13%.
  • Liquidity ratio was left at 30%
  • This is the last policy meeting before President-elect Muhammadu Buhari takes office in Africa’s biggest oil producer on May 29.
  • More to follow

 

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Comments 3

  1. Nwachukwu

    Boom!!!

    Reply
  2. Ekwueme Mike Anyadibe

    It is actually a 11.42% reduction frm harmonized CRR – 35% (Feb-2015) to harmonized CRR – 31% (May-2015).

    Reply
    1. Nairametrics Author

      How did you arrive at 35%?

      Reply

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