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BREAKING: CBN Monetary Policy Rate Reduces to 13.5 percent

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The Central Bank of Nigeria has reportedly reduced the Monetary Policy Rate from 14 per cent to 13.5 per cent.

According to Punch Metro, the Monetary Policy Committee of the Central Bank of Nigeria on Tuesday reduced the Monetary Policy Rate from 14 per cent to 13.5 per cent.

The Governor, Mr. 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.

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He explained that six out of the 11 members that attended the meeting agreed to reduce the current monetary policy stance.

He said while the MPR was reduced to 13.5 per cent, the committee decided to retain the Cash Reserves Ratio at 22.5 per cent.

Also retained are the Liquidity Ratio which was left at 30 per cent; and the Asymmetric Window which was left at +200 and -500 basis points around the MPR.

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Alamu Tosin

The writer is Alamu Tosin. I have three strong passions in life — football, blogging and movies — in that order. I love spending time with friends talking about the important things in life and hate nothing more than ‘authority’ and hypocrisy. My personal believe in life is that once an individual sets his/her mind to achieve something, it is totally possible. And oh!, I am a strong Lannister, because I always pay my debt. For writing or fixing gigs, contact tosinalamu@gmail.com.

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