CBN MPC Retains Key Interest Rate At 14 Percent, Keeps CRR At 22.5 Percent

SAN FRANCISCO, January 24, (THEWILL) – The Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, on Tuesday resolved to hold benchmark interest rates at 14 per cent for the second time since July 2016.

The Governor of the apex bank, Mr. Godwin Emefiele, made this known to newsmen in Abuja at the end of the quarterly meeting.

He stated that the committee also decided to hold the Cash Reserve Ratio, CRR, and liquidity ratio at 22.5 percent and 30 percent respectively.

Emefiele added that the 10 members present at the MPC meeting unanimously agreed to keep the asymmetric corridor at +200 and +500 basis points.