Central Bank of Nigeria retains interest rate at 12.5%

The monetary policy committee of the Central Bank of Nigeria (CBN) on Monday retained the monetary policy rate at 12.5 per cent.

CBN Governor, Godwin Emefiele, made this announcement at the end of the MPC’s meeting.

Eight members of the committee voted in favour of holding the MPR, while two members wanted it reduced.

The Cash Reserve Ratio (CRR) was retained at 27.5 percent, liquidity ratio at 30 percent, while the Asymmetric Corridor was retained at +200/-500 basis points.

More to come later…

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