Monetary Policy Committee (MPC) of Central Bank of Nigeria (CBN) on Tuesday voted to retain the benchmark lending rate at 13.5 per cent.
Governor of CBN, Mr Godwin Emefiele who read the communique of the meeting shortly after it ended said MPC also retained credit reserve ratio (CRR) at 27.5 per cent, liquidity ratio at 30 per cent and asymmetric corridor at +200 and -500 basis points around the MPR.
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MPC according to him, unanimously voted to retain the rates so as to allow recent central bank (CBN) interventions to take root and take the desired effect on the economy.
Details later…
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