CBN’s MPC retains monetary rate at 14%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria which met on Wednesday after a long stretch has retained the Monetary Policy Rate at 14 per cent.

CBN Governor, Godwin Emefiele, who made the announcement at the end of a two-day meeting held at the apex bank’s headquarters in Abuja, explained that the decision was agreed to by nine members of the committee.

Other decisions by committee include retaining the committee also retained the Cash Reserves Ratio at 22.5 per cent, and the Liquidity Ratio which was left at 30 per cent; while the Asymmetric Window was left at +200 and -500 basis points around the MPR.

 

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