By Nse Anthony-Uko
ABUJA, (Sundiata Post) — The Central Bank of Nigeria has kept its key interest rate at 14 per cent, in line with market expectations as the country fights off future recession threats.
CBN Governor, Mr Godwin Emefiele stated that Nigeria’s economic indicators remain positive despite MPC meeting crisis
The Monetary Policy Committee of the Con Tuesday left the Monetary Policy Rate unchanged at 14 per cent.
The CBN 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.
He explained that seven members of the committee that attended the meeting agreed to maintain the current monetary policy stance while three voted to increase the rate.
He said apart from the MPR which was retained at 14 per cent, the committee also retained 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.