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The Central Bank of Nigeria to hold the Monetary Policy Rate at 11.5 percent

T.I Ukende
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Central Bank of Nigeria’s Governor, Godwin Emefiele

The Central Bank of Nigeria has held the Monetary Policy Rate at 11.5 percent.

The CBN Governor, Godwin Emefiele, unveiled this during a preparation after the primary Monetary Policy Committee meeting for the year held in Abuja on Tuesday.

Different boundaries left unaltered are the Cash Reserve Ratio and Liquidity Ratio at 27.5 percent and 30 percent separately.

Reporting the advisory group’s choice, Emefiele said, “After a cautious adjusting of the advantages and the drawback dangers of the strategy choices, the MPC chose to hold all boundaries steady, accepting that an entire position will empower the consistent saturation of current approach measures in supporting the recorded development recuperation and further lift creation and usefulness which will eventually get control over expansion in the short to medium term.

“The MPC along these lines chose by a consistent vote, the MPC casted a ballot as follows, one, hold MPR at 11.5 percent; hold the topsy-turvy passageway of +100/ – 700 premise focuses around the MPR; hold the CRR at 27.5 percent; and hold the Liquidity Ratio at 30%.”

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