Nigeria MPC hikes MPR by 150bps to 26.25% (full-speech)

Nigeria's Central Bank hike its Monetary Policy Rate by 150 basis points, bringing it to 26.25 per cent. The decision was made during the Monetary Policy Committee meeting where the CBN Governor Olayemi Cardoso stated that the committee was confronted with the choice of either raising or maintaining rates as it monitored the effects of previous hikes. Additionally, the bank opted to keep the Asymmetric Corridor unchanged at +100/-300 basis points around the MPR. Furthermore, it maintained the cash reserve ratio at 45 per cent and the liquidity ratio at 30 per cent.