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Cbn Retains Monetary Policy Rate At 14 Percent

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BEVERLY HILLS, November 22, (THEWILL) – The Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, on Tuesday ended its two-day meeting, leaving the Monetary Policy Rate, MPR, unchanged at 14 per cent. The ten-member committee also voted to retain the Cash Reserves Ratio at 22.50 per cent.

The CBN Governor, Godwin Emefiele, who made this known to newsmen at the apex bank's headquarters in Abuja, explained that all the 10 members that attended the meeting agreed to maintain the current monetary policy stance, adding that their decision was the best option for the country at the moment.

Also retained by the apex bank committee is the Liquidity Ratio, which was left at 30 per cent; even as members of the MPC left the Asymmetric Window at +200 and -500 basis points around the monetary policy rate.