MPC Retains MPR At 13.5%

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CBN Governor, Godwin Emefiele.

The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 13.5%.

Governor of the Central Bank, Godwin Emefiele, made the announcement on Friday during the MPC meeting in Abuja.

This is the sixth month the apex bank has maintained the rate after it was dropped from 14% to 13.5% in March.

According to Emefiele, the decision was unanimously agreed upon by all committee members.

He said, “The committee has decided by a unanimous vote to maintain Monetary Policy Rate at 13.5% and to hold other policy parameters constant.

“In summary, the MPC voted to retain MPR at 13.5%, to retain asymmetric corridor at +200 and -500 basis points around the MPR, to retain CRR at 22.5% and to retain the liquidity Ratio at 30%”.

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