The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) on Tuesday retained the Monetary Policy Rate (MPR) unchanged at 14 per cent for the 13th time.
The CBN Governor, Godwin Emefiele, announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja between Monday, September 24 and Tuesday, September 25.
Emefiele said that seven members of the committee who attended the meeting agreed to maintain the current monetary policy stance while three voted to increase the rate.
He explained that the committee also retained the Cash Reserves Ratio (CRR) at 22.5 per cent.
Also retained are the Liquidity Ratio (LR) which was left at 30 per cent; and the Asymmetric Window (AW) which was left at +200 and -500 basis points around the MPR.