At the end of its two-day meeting, the Monetary Policy Committee of the Central Bank of Nigeria on Tuesday left all the monetary policy parameters unchanged.
The Monetary Policy Rate, also known as interest rate, was retained at 11.5 per cent, Cash Reserve Ratio at 27.5 per cent, Liquidity Ratio at 30 per cent and the asymmetric corridor of +100/-700 basis points around the MPR.
Addressing journalists, the CBN Governor, Godwin Emefiele, pointed out that the decision to hold the rates at their current levels, despite rising inflation, followed the need to boost output, given that the economy just exited recession.
Details later…
