These measures included, among others, the reduction in the Monetary Policy Rate (MPR), cash reserve ratio (CRR) and liquidity Ratio (LR). The MPR was gradually reduced from 10.25 per cent to 6 per cent to its present level between September 18, 2008 and July 7, 2009 and subsequently raised to 6.25 per cent on September 21, 2010.
Similarly, the cash reserve ratio was reduced from 4.0 per cent to 2.0 per cent and further to 1.0 per cent while the liquidity ratio was progressively reduced from 40 per cent to 25 per cent.