Breaking: CBN increase Credit ratio to 22.7 per cent
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has raised Nigeria’s Cash Reserve Ration by 500 points from 22.5 per cent to 22.7 per cent.
The Committee said the decision is to help address ‘Monetary induced inflation’
It also said banks must be compelled to grant loans to the private sector which formed part of it’s decision.
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The MPC however maintained other monetary parameters with Monetary rates at 13.5 per cent, with liquidity ratio at 30 per cent
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