- Apart from the MPR that was retained at 13.5 per cent, the committee decided to hold the Cash Reserves Ratio at 22.5 per cent.
The Central Bank of Nigeria leaves the benchmark lending rate unchanged at 13.5%.
This was disclosed by the CBN Governor, Mr Godwin Emefiele while briefing the Press after the 5th Monetary Policy Committee meeting held at the apex bank’s headquarters in Abuja.
He says the committee which constitutes of 11 members had 9 members present. He added that the 9 members present unanimously agreed to hold the monetary policy stance.
Apart from the MPR that was retained at 13.5 per cent, the committee decided to hold the Cash Reserves Ratio at 22.5 per cent.
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 were also retained.
Recall that the CBN cashless policy and VAT increase from 5 per cent to 7.5 per cent has raised a lot of reactions by Nigerians.
Details soon…………
