Breaking: MPC raises MPR to 25.25%

The Monetary Policy Committee (MPC) has raised the Monetary Policy Rate (MPR) to 25.25%

At the end of the 295th MPC meeting held on May 20th & 21st, the committee voted to raise the MPR by 150bps to 26.25%.

The committee however retained the asymmetric corridor at +100/-300 around the MPR and the CRR of Commercial banks at 45.00%.

The liquidity ratio constant holds at 30.00%.

Recall the the committee in February hiked the Monetary Policy Rate (MPR) by 400-basis-points to 22.75 percent and the cash reserve ratio to 45 percent, a record hike that took several analysts by surprise.