{"id":4882,"date":"2024-11-26T16:19:13","date_gmt":"2024-11-26T15:19:13","guid":{"rendered":"https:\/\/synccapitalng.com\/home\/?p=4882"},"modified":"2024-11-26T16:19:13","modified_gmt":"2024-11-26T15:19:13","slug":"central-bank-of-nigeria-increases-monetary-policy-rate-to-27-50","status":"publish","type":"post","link":"https:\/\/synccapitalng.com\/home\/media\/central-bank-of-nigeria-increases-monetary-policy-rate-to-27-50\/","title":{"rendered":"Central Bank Of Nigeria Increases Monetary Policy Rate To 27.50%"},"content":{"rendered":"<p><strong>This would mean that borrowing becomes costlier; the CBN also aims to use monetary policy rates to control inflation.<\/strong><\/p>\n<p dir=\"ltr\">The Central Bank of Nigeria has increased monetary policy rate to 27.50% from the earlier 27.25% in which it was pegged.\u00a0\u00a0This would mean that borrowing becomes costlier; the CBN also aims to use monetary policy rates to control inflation.\u00a0\u00a0It is also aimed at ensuring that the naira becomes stronger.<\/p>\n<p dir=\"ltr\">\n<p dir=\"ltr\">According to a post on the official X account of the CBN, the bank voted to increase monetary policy rate by 250 points.\u00a0\u00a0\u201cThe Monetary Policy Committee (MPC) Voted unanimously to raise Monetary Policy Rate (MPR) by 250 basis point from 27.25% to 27.50%\u201d the statement read.<\/p>\n<p dir=\"ltr\">\n<p dir=\"ltr\">The CBN also voted to \u201cretain Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks.\u201d\u00a0\u00a0\u201cThe Committee also retains the Liquidity Ratio (LR) at 30% and Asymmetric Corridor at +500\/-100 basis points around the MPR.\u201d the apex bank posted.<\/p>\n<p dir=\"ltr\">\n<p dir=\"ltr\">The increase in monetary policy rates have failed to reduce the inflation in the country with general inflation and food inflation experiencing increase.\u00a0\u00a0It is unclear if the CBN monetary policy rate does not affect government borrowings as state governments have continued to borrow increasingly from domestic sources.\u00a0\u00a0The CBN have continued to insist that increasing monetary policy rates were vital to economic stability and recovery in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This would mean that borrowing becomes costlier; the CBN also aims to use monetary policy rates to control inflation. The Central Bank of Nigeria has increased monetary policy rate to 27.50% from the earlier 27.25% in which it was pegged.\u00a0\u00a0This would mean that borrowing becomes costlier; the CBN also aims to use monetary policy rates [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","_wp_convertkit_post_meta":{"form":"-1","landing_page":"0","tag":"0","restrict_content":"0"},"footnotes":""},"categories":[22,1],"tags":[],"class_list":["post-4882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Central Bank Of Nigeria Increases Monetary Policy Rate To 27.50% - Sync Capital<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/synccapitalng.com\/home\/media\/central-bank-of-nigeria-increases-monetary-policy-rate-to-27-50\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central Bank Of Nigeria Increases Monetary Policy Rate To 27.50% - Sync Capital\" \/>\n<meta property=\"og:description\" content=\"This would mean that borrowing becomes costlier; the CBN also aims to use monetary policy rates to control inflation. The Central Bank of Nigeria has increased monetary policy rate to 27.50% from the earlier 27.25% in which it was pegged.\u00a0\u00a0This would mean that borrowing becomes costlier; the CBN also aims to use monetary policy rates [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/synccapitalng.com\/home\/media\/central-bank-of-nigeria-increases-monetary-policy-rate-to-27-50\/\" \/>\n<meta property=\"og:site_name\" content=\"Sync Capital\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/web.facebook.com\/synccapitalinfo\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-26T15:19:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synccapitalng.com\/home\/wp-content\/uploads\/2024\/11\/Cardoso-CBN.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1300\" \/>\n\t<meta property=\"og:image:height\" content=\"650\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"syncadmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@synccapitalinfo\" \/>\n<meta name=\"twitter:site\" content=\"@synccapitalinfo\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"syncadmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/synccapitalng.com\\\/home\\\/media\\\/central-bank-of-nigeria-increases-monetary-policy-rate-to-27-50\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/synccapitalng.com\\\/home\\\/media\\\/central-bank-of-nigeria-increases-monetary-policy-rate-to-27-50\\\/\"},\"author\":{\"name\":\"syncadmin\",\"@id\":\"https:\\\/\\\/synccapitalng.com\\\/home\\\/#\\\/schema\\\/person\\\/718fa280c8de9b9a7acd198f53edfe47\"},\"headline\":\"Central Bank Of Nigeria Increases Monetary Policy Rate To 27.50%\",\"datePublished\":\"2024-11-26T15:19:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/synccapitalng.com\\\/home\\\/media\\\/central-bank-of-nigeria-increases-monetary-policy-rate-to-27-50\\\/\"},\"wordCount\":231,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/synccapitalng.com\\\/home\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/synccapitalng.com\\\/home\\\/media\\\/central-bank-of-nigeria-increases-monetary-policy-rate-to-27-50\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synccapitalng.com\\\/home\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/Cardoso-CBN.jpg\",\"articleSection\":[\"Articles\",\"News\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/synccapitalng.com\\\/home\\\/media\\\/central-bank-of-nigeria-increases-monetary-policy-rate-to-27-50\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/synccapitalng.com\\\/home\\\/media\\\/central-bank-of-nigeria-increases-monetary-policy-rate-to-27-50\\\/\",\"url\":\"https:\\\/\\\/synccapitalng.com\\\/home\\\/media\\\/central-bank-of-nigeria-increases-monetary-policy-rate-to-27-50\\\/\",\"name\":\"Central Bank Of Nigeria Increases Monetary Policy Rate To 27.50% - 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