CBN holds monetary policy rate at 14%. The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday left the Monetary Policy Rate unchanged at 14 per cent.
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 members of the committee that attended the meeting agreed to maintain the current monetary policy stance.
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.
The CBN Governor, Godwin Emefiele who announced the decision at the end of the bank’s Monetary Policy Committee (MPC) meeting in Abuja said the Cash Reserve Ratio (CRR) and the Liquidity Ratio were left untouched at twenty-two point five and thirty percent respectively.
The Apex bank Governor, while applauding the nation’s positive economic outlook in the economy quarter of the year said the Committee contemplated tightening the MPR to stem the tide of capital flow normalisation but declined due to the adverse effect it will have on the economy that is still recovering from recession.