BREAKING: CBN Retains MPR at 14%, CRR at 22.5%

April 4, 2018
MPC Meeting

By Dipo Olowookere

The Central Bank of Nigeria (CBN) on Wednesday announced retaining the key monetary rates at current level as some observers had anticipated.

This announcement was made after the end of the Monetary Policy Committee (MPC) meeting held in Abuja, the first in 2018.

Governor of the CBN, Mr Godwin Emefiele, while addressing newsmen this afternoon, said the committee, after its deliberations, unanimously agreed to hold the Monetary Policy Rate (MPR) at 14 percent.

Speaking further, he said the Cash Reserve Ratio (CRR) is left at 22.5 percent, while the Liquidity Ratio is retained at 30 percent.

Furthermore, the CBN Governor said the asymmetric corridor was unanimously retained at +200bps/-500bps.

Details later.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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