Nigeria’s stock market retreated on Tuesday by 0.92 percent after Monetary Policy Committee (MPC) verdict.
Rising from its 304th meeting held from February 23 to 24, the Monetary Policy Committee cut the Monetary Policy Rate (MPR) by 50 basis points (bps) to 26.50 percent.
The MPC also adjusted the asymmetric corridor to +50/-450bps around the MPR; retained the Cash Reserve Ratio (CRR) for Deposit Money Banks to 45 percent; retained the CRR for Merchant Banks at 16 percent; and maintained the Liquidity Ratio at 30 percent.
