CBN Retains Record-high 14% Interest Rate - 9JAOlofofo | Nigeia #1 gossip site.

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Wednesday, 21 September 2016

CBN Retains Record-high 14% Interest Rate

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained interbank rate at 14 per cent to allow other measures like the foreign exchange market reforms to work through fully.
Announcing the committee’s decision yesterday, the CBN governor, Godwin Emefiele, said the committee decided to retain all the monetary policy instruments at their current levels after it was observed that the interest rate policy seemed to be yielding positive results as foreign cash inflows had improved significantly.
“All 10 MPC members voted to: retain the MPR at 14 per cent; retain the CRR at 22.5 per cent; retain the Liquidity Ratio at 30 per cent, and retain the Asymmetric Window at +200 and -500 basis points around the MPR,” Emefiele announced yesterday.
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