CBN retains benchmark lending rate despite inflation

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The rate has remained at 11.5 per cent since the last quarter of 2020 despite persistent inflation in the country.

Consumer goods inflation rose to 15.7 per cent in February amid fuel scarcity and foreign currency shortage.However, at the end of the committee meeting Monday, the CBN governor,The other parameters that were retained include the cash reserve requirement at 27.5 per cent, liquidity ratio at 30 per cent, and the asymmetric corridor at +100/-700 basis points around the MPR.

The CRR is the funds kept with the CBN as a minimum deposit a commercial bank must hold as reserves, which they cannot lend out to

 

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These people are bent on frustrating the capacity of local businesses to access critical capital for expanding their operations. You keep doing the same thing and expecting different results! Is this how to sustain d Ease of Doing Business Policy of the FG.

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