In the previous week, the Monetary Policy Committee (MPC) held a 2-day meeting where committee members voted on potential policy changes. The MPC voted to maintain status quo on all its monetary policy tools, retaining the MPR at 11.5%, CRR at 27.5%, Liquidity ratio at 30.0% and the Asymmetric corridor of +100/-700 around the MPR. The decision to hold all policy parameters at current levels is intended to create a stable environment to allow for stronger economic recovery, as the recessionary pressures facing the country remain, as seen with the growing unemployment rate.
