The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has kept the Monetary Policy Rate (MPR) constant at 13.50%. Also, other parameters such as Cash Reserve Ratio (CRR), Liquidity ratio, and asymmetric corridor remain unchanged.
The Governor of CBN, Mr. Godwin Emefiele, disclosed this while reading the communique at the end of the two-day MPC meeting on Tuesday in Abuja.
According to Emefiele, the decision of the MPC to hold all rates was informed by the conviction of the committee members that key macroeconomic indicators are trending in the right direction and to sustain the improved growth in the Nigerian economy.
Highlights of Committee’s decision
- MPR was kept at 13.50%
- The asymmetric corridor of +200/-500 basis points around the MPR was retained.
- CRR was held at 22.5%
- The Liquidity Ratio was also kept at 30%