CBN retains MPR at 11.5%

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The Monetary Policy Committee of the Central Bank of Nigeria has agreed to retain the Monetary Policy Ratio at 11.5 per cent

Godwin Emefiele, CBN Governor, revealed this on Friday at the conclusion of the two-day MPC meeting in Abuja.

Emefiele said the committee also resolved to hold all other policy parameters constant.

The decisions reached by the MPC included retention of MPR at 11.50 per cent, retention of asymmetric corridor at +100/-700 bps around the MPR, retention of cash reserve ratio at 27.50 per cent and retention of Liquidity Ratio at 30 per cent.

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Emefiele said the bank’s continuous intervention in the agricultural sector would help to increase food production in the country and moderate the food inflation further.

The News Agency of Nigeria reports that the MPC is retaining the MPR at 11.5 per cent and holding all other parameters constant for the seventh consecutive time.

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