BREAKING: CBN reduces MPR to 12.5%

The Monetary Policy Committee (MPC) of Central Bank of Nigeria on Thursday reduced monetary policy rate (MPR), or the controlling lending rate to 12.5 per cent.

It, however, left other monetary policy parameters unchanged.

Reading the communique of the meeting, CBN Governor, Mr Godwin Emefiele, said the MPC resolved to retain the Liquidity Ratio at 30 per cent, Cash Reserve Requirement (CRR) at 27.5 per cent and the asymmetric corridor at +200/-500 basis points around the MPR.

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