The Central Bank of Nigeria (CBN) on Tuesday retained the monetary policy rate (MPR) at 11.5 percent.
MPR is the rate at which CBN lends to banks and is therefore regarded as the benchmark lending rate.
It also retained all other policy rates including cash reserve ratio (CRR) at 27.5 percent; asymmetric corridor at +100-700 basis points; and liquidity ratio at 30 percent.
At a press conference on the outcome of the 4th MPC meeting for 2021, Governor of CBN, Mr Godwin Emefiele also disclosed that foreign reserves grew marginally to $33.8 billion.
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