The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has announced its decision to retain the monetary policy rate (MPR) at 11.5 per cent.
At its last meeting, the committee members also voted to retain MPR at 11.5 per cent – the rate it had been since September 2020.
Governor of the CBN, Godwin Emefiele announced the committee’s decision on Tuesday at the end of a two-day meeting at the CBN headquarters in Abuja.
“The MPC made the decision to hold all policy parameters constant. Committee thus decided by a unanimous vote to retain monetary policy rate at 11.5 per cent.,” Emefiele said.
“MPC voted to retain asymmetric corridor +100 -700 basis points. It also voted to retain cash reserve ratio at 27.5per cent and retain the liquidity ratio at 30per cent”