CBN maintains Benchmark Rate at 11.50%, bans sale of Forex to BDCs– 27 July 2021

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) concluded its fourth monetary policy meeting of 2021 today, maintaining all key rates. Please see below, a summary of the committee’s decisions:  

–          Retain MPR at 11.50%

–          Retain CRR and Liquidity ratio at 27.50% and 30% respectively.

–          Maintain an asymmetric corridor at +100/–700 basis points around the MPR.

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