CBN retains interest rate at 13.15 per cent

The Central Bank of Nigeria (CBN) on Friday decided to retain the Monetary Policy at 13.5 per cent.

The MPR is the rate at which the CBN lends to the real sector and often determines the cost of borrowing in the economy.

While speaking with journalists at the end of a two-day meeting of the Monetary Policy Committee (MPC), in Abuja, CBN Governor, Mr. Godwin Emefiele, revealed that the committee resolved to retain the asymmetric corridor at +200/-500 basis points around the MPR.

He also said the Cash Reserve Requirements (CRR) and Liquidity Ratio remained at 22.5 per cent and 30 per cent respectively.