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CBN MPC Retains Monetary Policy Rate At 11.5%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted unanimously to retain the Monetary Policy Rate (MPR), which determines interest rate, at 11.5 percent.

CBN Governor, Godwin Emefiele, made the disclosure while reading a communique at the end of the MPC’s two-day meeting on Tuesday.

The committee also retained the Liquidity Ratio at 30 percent and Cash Reserve Ratio (CRR) at 27.5 percent.

The asymmetric corridor of +100/-700 basis points around the MPR remains unchanged.

Details later…

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