x

CBN retains lending rate at 11.5%

The Central Bank of Nigeria has retained the Monetary Policy Rate at 11.5 per cent.

The CBN Governor, Godwin Emefiele, disclosed this during a briefing after the first Monetary Policy Committee meeting for the year held in Abuja on Tuesday.

Other parameters left unchanged are the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively.

Announcing the committee’s decision, Emefiele said, “After a careful balancing of the benefits and the downside risks of the policy options, the MPC decided to hold all parameters constant, believing that a whole stance will enable the continuous permeation of current policy measures in supporting the recorded growth recovery and further boost production and productivity which will ultimately rein in inflation in the short to medium term.

“The MPC thus decided by a unanimous vote, the MPC voted as follows, one, retain MPR at 11.5 per cent; retain the asymmetric corridor of +100/-700 basis points around the MPR; retain the CRR at 27.5 per cent; and retain the Liquidity Ratio at 30 per cent.”

Details later…

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Hoodlums Kill 12 Travellers in Plateau State

By Israel Adamu, Jos At least 12 persons traveling from...

Sokoto State Government Covers WAEC, NECO, NABTEB Fees for Final-Year Students

By Muhammad Ibrahim, Sokoto The Sokoto State Government, under the...

DG NYSC Nafiu assures safety of lives of Corps members

By Anne Azuka The Director- General National Youths Service Corps(NYSC),...

Delta Speaker Guwor congratulates Ereyitomi on 60th birthday anniversary

By Anne Azuka Speaker, Delta State House of Assembly, Rt....

GILS to hold 2nd edition of UMARU MUSA YAR’ADUA leadership summit, awards

Global Initiative For Leadership Success GILS, the convener of...

Sokoto L-PRES Hosts Stakeholders’ Meeting on Credit Line Initiative

By Muhammad Ibrahim, Sokoto The Livestock Productivity and Resilience Support...

Tinubu to Uba Sani: You’ve Rewritten Kaduna’s Story

...Commissions 300-Bed Hospital, 100 CNG Buses, Vocational Centres in...

Tyem Earns Praise for Economic, Agricultural Strides

By Israel Adamu, Jos Farmers and residents of Langtang North...
spot_img

Related Articles

Popular Categories

spot_imgspot_img