CBN leaves monetary policy rate unchanged at 14%

Against the expectations, that The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Wednesday left the Monetary Policy Rate (MPR) unchanged at 14 per cent.

The CBN Governor, Mr Godwin Emefiele, announced the decision of the committee at the end of a two-day meeting held at the CBN’s headquarters in Abuja.

He explained that nine members of the committee unanimously agreed to maintain the current monetary policy stance.

He also explained that apart from the MPR which was retained at 14 per cent, the committee also retained the Cash Reserves Ratio (CRR) at 22.5 per cent.

The Committee also retained the Liquidity Ratio which was left at 30 per cent; and the Asymmetric Window which was left at +200 and -500 basis points around the MPR.