The Monetary Policy Committee, MPC, of the Central Bank of Nigeria on Tuesday raised the interest rate to 24.75 from 22.75 per cent.
The CBN however retained the Cash Reserve Ratio of Deposit Money Banks at 45 per cent and adjusted the CRR of Merchant banks from 10 per cent to 14 per cent.
The CBN retained a liquidity ratio of 13 per cent.
The decision was reach at the end of two-days MPC meeting for March 2024.
The meeting marks the second MPC meeting for 2024 and also the 294th meeting of the CBN.
Details later…
