The Central Bank of Nigeria has retained the monetary policy benchmark rate at 13.5 percent.Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, disclosed this during a press conference on Friday at the end of a two-day MPC meeting held at the apex bank’s headquarters in Abuja.
“The committee by a decision of nine members voted to alter cash reserve requirement by 500 basis point from 22.5 to 27.5 percent; while leaving all other policy parameters constant. Mr Emefiele added that the committee maintained MPR essentially for sustainable support to growth before any possible adjustment.
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