CBN leaves monetary policy rate at 13.5%

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) on Tuesday left the Monetary Policy Rate unchanged at 13.5 per cent.

The CBN Governor, Mr Godwin Emefiele, announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja.

He explained that all the 11 members that attended the meeting agreed to retain the current monetary policy stance.

He said apart from the MPR that was retained at 13.5 per cent, the committee decided to hold the Cash Reserves Ratio at 22.5 per cent.

Read also: Forex dealers get $4.47bn from CBN in two months

Also retained are the Liquidity Ratio which was left at 30 per cent; and the Asymmetric Window which was left at +200 and -500 basis points around the MPR.

The apex bank had in March reduced the Monetary Policy Rate from 14 per cent to 13.5 per cent.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now