CBN Opens Dialogue With Citizens On Economic Measures: Interest Rates And Cash Reserve Ratio In Focus

CBN Opens Dialogue With Citizens On Economic Measures: Interest Rates And Cash Reserve Ratio In Focus

The Central Bank of Nigeria is inviting the public to express their opinions on the outcomes of its recent 293rd Monetary Policy Committee (MPC) meeting. In a statement posted on its official platform on Monday, the CBN urged Nigerians to participate in a survey through the provided link to share their perspectives on the decisions taken during the meeting.

This development follows the appointment of Olayemi Cardoso as the Governor of the CBN, making the 293rd MPC meeting the first under his leadership. During the session, the MPC made significant decisions, including a 400 basis points increase in the country’s interest rate, raising it to 22.75% from 18.75%. Additionally, the Cash Reserve Ratio was raised to 45.0% from 32.5%, while the liquidity ratio was retained at 30%.

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