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Just in: CBN raises MPR, retains other indices
...Insists on January 31st deadline for old notes as NASS kicks
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its first meeting of the year, decided to:
Raise the MPR further by 100bps to 17.50%;
Retain the asymmetric corridor of +100/-700bps around the MPR;
Retain the CRR at 32.5 per cent; and
Retain the Liquidity Ratio at 30 per cent.
On the new naira notes, the apex bank made it clear in a terse comment during the MPR address that there should be no deadline extension of any sort.
…Details later
