MPR rates maintained at 13.5% - MPC

The Monetary Policy Committee (MPC) has once again retained the Monetary Policy Rate at 13.5 per cent due to persistent uncertain economic conditions and high inflation. The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele on Tuesday said this while briefing newsmen on outcome of MPC meeting in Abuja. Out of 11 MPC members he said nine members unanimously voted to retain the existing MPR.

This means that the Cash Reserve Ratio still remains 22.5 per cent, Liquidity Ratio, 30 per cent, the Asymmetric corridor is at +200 and -500 basis points around the MPR.