CBN again retains monetary policy rate at 14%

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The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday decided to leave the Monetary Policy Rate unchanged at 14 percent. The decision came after a two-day meeting held at the apex bank’s headquarters in Abuja.

The Committee decided by a vote of 8 to 1 members to retain the Monetary Policy Rate (MPR) at 14 percent alongside all other policy parameters.

Apart from the MPR which was retained at 14 per cent, the committee also retained the Cash Reserves Ratio at 22.5 per cent.

Also retained are 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.

 

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