Highlights

In its last meeting for the year, the Monetary Policy Committee (MPC) maintained its aggressive monetary stance, by raising the Monetary Policy Rate (MPR) by 25 basis points to 27.50%, and leaving all other parameters unchanged. This increase- the least aggressive hike for the year – brings the cumulative rate hike for 2024 to 875 basis points.

In Summary:

—> Monetary Policy Rate: 27.50% from 27.25%.

—> Asymmetric Corridor: +500/-100 basis points around the MPR.

—> CRR of Deposit Money Banks: 50.00%.

—> CRR of Merchant Banks: 16.00%.

—> Liquidity Ratio: 30.00%.

Click here “November 2024 MPC Decision – A Hawkish Farewell in the Year’s Final Meeting” to view the full report.

Thank you