The Monetary Policy Committee of the Central Bank of Nigeria, on Monday, retained the Monetary Policy Rate at 12.5 per cent.
The MPR is the rate at which the apex bank lends to the Deposit Money Banks.
THe CBN Governor, Godwin Emefiele, who announced the decision, also said the committee agreed to retain the Asymmetric Corridor of +200/-500 basis points around the MPR.
Also retained was the Cash Reserves Ratio at 27.5 per cent; as well as the Liquidity Ratio, at 30 per cent.
Emefiele said that the decision to hold the monetary policy parameters was due to the fact that there was a need to strike a balance to support economic growth while reducing unemployment rate.
Details later…
