cpr Archives - Frontpageng https://frontpageng.com/tag/cpr/ Where the news is Tue, 26 Mar 2024 14:53:39 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://frontpageng.com/wp-content/uploads/2018/09/cropped-Frontpage-e1537105060264-32x32.jpg cpr Archives - Frontpageng https://frontpageng.com/tag/cpr/ 32 32 150357949 CBN increases inter-bank interest rate to 24.75% https://frontpageng.com/cbn-increases-inter-bank-interest-rate-24-75/ Tue, 26 Mar 2024 14:03:11 +0000 https://frontpageng.com/?p=81343 The Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, raised Monetary Policy Rate, MPR, – inter-bank loan interest rate – by 200 basis points, to 24.75 per cent from 22.75 per cent on Tuesday. MPR is a short-term, often overnight rate that banks charge one another to borrow funds. READ ALSO: Police […]

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]]> The Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, raised Monetary Policy Rate, MPR, – inter-bank loan interest rate – by 200 basis points, to 24.75 per cent from 22.75 per cent on Tuesday.

MPR is a short-term, often overnight rate that banks charge one another to borrow funds.

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Governor of the CBN, Mr Yemi Cardoso, announced the raise in a communiqué he read on the 294th meeting of the MPC.

Cardoso announced that the MPC also adjusted the Asymmetric Corridor to +100/-300 basis points around the MPR and retained Cash Reserve Ratio at 45 per cent.

Source: NAN

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