The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) rose from its two-day meeting on Friday with a decision to retain the Monetary Policy Ratio (MPR) at 11.5 per cent
Mr Godwin Emefiele, CBN Governor who spoke at the conclusion of the meeting said that the committee also resolved to hold all other policy parameters constant.
The decisions reached by the MPC include retention of MPR at 11.50 per cent, retention of asymmetric corridor at +100/-700 bps around the MPR, retention of cash reserve ratio at 27.50 per cent and retention of Liquidity Ratio at 30 per cent.
Emefiele said that the bank’s continuous intervention in the agricultural sector would help to increase food production in the country and moderate the food inflation further.
The MPC is retaining the MPR at 11.5 per cent and holding all other parameters constant for the seventh consecutive time.