Update 2: With eyes on inflation, CBN raises CRR to 27.5%

MPC embarks on retreat ahead of monetary policy decision Monday

Nigeria’s Central Bank governor, Godwin Emefiele

With eyes on rising inflation and surging liquidity, the Central Bank Nigeria (CBN) on Friday moved against wide projections by analysts and raised the Cash Reserve Ratio (CRR) by 500 basis points to 27.5%. But it retained the Monetary Policy Rate (MPR) at 13.5%, citing comfort with its policies

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