Monetary Policy: CBN Retains 14 % Lending Rate

Posted by African Examiner Business News, Featured, Latest Headlines Tuesday, November 22nd, 2016

ABUJA, NIGERIA (AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has resolved to maintain the Monetary Policy Rate (MPR) also known as the lending rate at 14 per cent.

CBN Governor Mr. Godwin Emefiele, disclosed this while briefing newsmen Tuesday on the outcome of the Bank’s Monetary Policy Committee (MPC) meeting, which started Monday.

Also, MPC meeting resolved that the Bank Cash Reserve Ratio (CRR,) stands at 22.50 per cent and the Liquidity Ratio at 30 per cent.

Mr. Emefiele explained that holding all the rates was best for the economy at the moment.