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Economy | Monetary Policy

MPC Holds Policy Parameters at the End of March 2022 Meeting; Suggests Possible Rate Hike

Mar 21, 2022   •   by Proshare Research   •   Source: Proshare   •   eye-icon 161 views

Monday, March 21, 2022 / 06:37 PM / by Proshare Research / Header Image Credit: CBN 

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has today concluded the first days of its two-day meeting in March 2022.

This marks the second MPC meeting for the year 2022.

In line with analysts expectation, the Monetary Policy Committee (MPC) at the end of today's meeting elected by a vote 6 out of 10 members to retain all policy parameters as follows:

  • The benchmark interest rate (MPR) retained at 11.50%
  • The asymmetric corridor remained at to +100/-700 bps around the MPR
  • The cash reserve ratio retained at 27.50%; and
  • The Liquidity Ratio retained at 30.00%

Furthermore, economic analysts are of the view that the disposition of the CBN suggests a possible rate hike in H2'22 as 3 members voted for a 25bps rate hike and 1 voted for a 50bps increase.

 

Proshare Nigeria Pvt. Ltd.

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