CBN Retains Monetary Policy Rates At 14% For The 9th Consecutive Time

CBN retains monetary policy rates

CBN Concludes Two-Day Policy Meeting

The Central Bank of Nigeria’s Monetary Policy Committee (MPC) today left the Monetary Policy Rate (MPR) at 14% and all other variables unchanged.

Naija News learnt that 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 eight out of the nine members of the committee that attended the meeting agreed to maintain the current monetary policy stance.

He said the other one member of the MPC voted that the rates be increased.

He said apart from the MPR which was retained at 14 per cent, 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.