By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: CBN retains MPR at 11.5 per cent, holds other parameters constant
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Business

CBN retains MPR at 11.5 per cent, holds other parameters constant

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: November 24, 2021
Share
2 Min Read
CBN Governor, Godwin Emefiele
CBN Governor, Godwin Emefiele
SHARE

The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 11.5 per cent for the umpteenth time.

This was announced by the CBN Governor, Godwin Emefiele, after the committee’s  282nd meeting on Tuesday.

According to him, the MPC also unanimously agreed to hold all other monetary policy parameters constant.

He said: “This meeting MPC was gratified that its policy actions in the past had started to yield positive result through remarkable improvement in Gross Domestic Product, which stood at 4.03 per cent during the third quarter of 2021.

- Advertisement -

“There was also the sixth consecutive month moderation in inflation to 15.99 percent in October.

“Given the level of its conviction about the efficacy of its actions on macroeconomic variables, MPC felt that tightening could increase cost of funds and constrain growth, while loosening could compound distortion in the money market.

“The MPC believes that the existing monetary policy stance has supported economic growth and recovery and should be allowed to continue for a little longer for consolidation.”

Emefiele added that consolidation would allow the MPC realise its mandate of price stability that is conducive to growth.

- Advertisement -

“The committee also feels that the old stance will enable it to carefully access the implication of unfolding global developments around policy deepening and normalisation by the advanced economies,” said Emefiele.

Considering the foregoing, he added that the committee decided to hold all policy parameters constant to support the enabling environment for sustained growth of the Nigerian economy.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:CBNGodwin Emefiele
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Dana Air Dana Air appoints new deputy CEO
Next Article President Buhari speaking to NNPC NNPC delegation and government officials at the State House on October 8. Buhari suspends inauguration of new NNPC Limited board

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities
News
Mike Ejeagha
Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95
News
Tinubu Welcomes Gov Eno to APC as Political Realignments Intensify Across States
Politics Top stories
Super Eagles Rally to Draw Against Russia in International Friendly
Sport
Manchester United Raises Annual Core Profit Forecast to Between £180m and £190m After Europa League Boost
Sport
- Advertisement -
Ad imageAd image

You May Also Like

Ange Postecoglou
Sport

Tottenham Hotspur Part Ways with Ange Postecoglou Despite Europa League Glory

Yusuf Abubakar
Yusuf Abubakar
June 6, 2025
News

Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President

Muhammad A. Aliyu
Muhammad A. Aliyu
June 6, 2025
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Tech

Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users

Farouk Mohammed
Farouk Mohammed
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?