The Monetary Policy Committee of the Central Bank of Nigeria said it has retained the Monetary Policy Rate at 11.5%.
CBN Governor, Godwin Emefiele was speaking after the committee’s two-day meeting in Abuja.
According to him, the bank also retained the Cash Reserve Ratio at 27.5% and Liquidity Ratio at 30% respectively.
Emefiele further said the MPC decided it, to hold all parameters constant and to retain the Monetary Policy Rate at 11.5 %
for some very important reasons which will pay everyone in the long run.