CBN Keeps Monetary Policy Rate At 11.5%

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The monetary policy committee of the Central Bank of Nigeria (CBN) has voted to retain the monetary policy rate at 11.5 percent.

Godwin Emefiele, the CBN governor, announced the committee’s decision on Tuesday at the end of a two-day meeting at the CBN headquarters.

The committee also retained the liquidity ratio at 30 percent and cash reserve ratio (CRR) at 27.5 percent.

According to Emefiele, six members voted to maintain all parameters while three voted to increase the MPR.

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