CBN Maintains Interest Rate At 12.50%, Keeps

BEVERLY HILLS, July 21, (THEWILL) – The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has announced its decision to retain the monetary policy rate (MPR) at 12.5 percent.

Godwin Emefiele, governor of the apex bank, announced the committee’s decision on Thursday at the end of the committee’s meeting.

He said the benchmark interest rate (MPR) was held to 12.50% while the cash reserve ratio was held at 27.50%.

The asymmetric corridor was retained at +200bps and -500bps around the Monetary Policy Rate.

The Liquidity Ratio was also retained at 30.00%.