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CBN Retains Monetary Policy Rate at 14%

By COMFORT NJIONYE

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday left the Monetary Policy Rate (MPR) unchanged at 14 per cent.

The Central Bank of Nigerian Governor, Mr Godwin Emefiele has announced the decision of the monetary policy committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja.

He explained that the six members of the committee agreed to maintain the current monetary policy stance.

However, it was also noted that two members voted to ease monetary policy rate.

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The committee retained the MPR which at 14 per cent, retained the Cash Reserves Ratio at 22.5 per cent the Liquidity Ratio at 30 per cent and the Asymmetric Window was left at +200 and -500 basis points around the MPR.

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