Business

MPC retains Monetary Policy Rate at 14%

Published

5 years ago

November 22, 2018

Nigeria's external reserve hits six months high at $44.14bn

The Monetary Policy Rate (MPR) has been left unchanged at 14% after a meeting of the Central Bank of Nigeria (CBN) Monetary Policy Committee meeting ended on Thursday.

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

Emefiele explained that all the 11 members of the committee that attended the meeting agreed to maintain the current monetary policy stance.

According to him, the committee also retained the Cash Reserves Ratio at 22.5 per cent while the Liquidity Ratio, was left unchanged at 30 per cent and the Asymmetric Window left at +200 and -500 basis points around the MPR.

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