CBN holds monetary policy rate at 14%

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The Monetary Policy Committee of the Central Bank of Nigeria agreed to leave the Monetary Policy Rate, MPR, unchanged at 14 per cent.

The decision of the committee was announced Tuesday by the CBN Governor, Mr Godwin Emefiele, at the end of a two-day meeting held at the apex bank’s headquarters in Abuja. He explained that members of the committee present at the meeting agreed to maintain the current monetary policy stance.

Asides the MPR, the committee also retained the Cash Reserves Ratio at 22.5 per cent. 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.

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