CBN retains monetary policy rate unchanged at 14%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at the end of its two-day meeting on Tuesday left the Monetary Policy Rate (MPR) unchanged at 14 per cent.
The CBN Governor, Mr Godwin Emefiele who announced the decision of the committee in Abuja explained that the six members of the committee agreed to maintain the current monetary policy stance while two members voted to ease monetary policy rate.
According to Emefiele, apart from the MPR which was retained at 14 per cent, the committee also retained the Cash Reserves Ratio at 22.5 per cent.
In addition, the Liquidity Ratio was left at 30 per cent; and the Asymmetric Window which was left at +200 and -500 basis points around the MPR.