Central Bank of Nigeria retains monetary policy rate at 14%

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday left the Monetary Policy Rate unchanged at 14 per cent.
The CBN Governor, Mr Godwin Emefiele, who announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja explained that the members of the committee agreed to maintain the current monetary policy stance.
Apart from the MPR which was retained at 14 percent, the governor said the committee also voted to retain the Cash Reserves Ratio at 22.5 per cent.Also retained are the Liquidity Ratio which was left at 30 percent; and the Asymmetric Window which was left at +200 and -500 basis points around the MPR.