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Business

CBN slashes monetary policy rate to 11.5%

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: September 23, 2020
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1 Min Read
Godwin Emefiele
Governor of the CBN, Godwin Emefiele
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The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has slashed its benchmark monetary policy rate (MPR) to 11.5 per cent, from the 12.5 per cent it was previously.

CBN Governor, Mr. Godwin Emefiele, announced this Tuesday while briefing journalists in Abuja, on the outcome of the September 2020 MPC meeting. The cash reserve requirement was however left unchanged.

Emefiele, also stressed that with the pandemic and external shocks, the central bank would continue with its aggressive development finance intervention in the real sector of the economy

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ByMuhammad A. Aliyu
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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.
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