[FILE PHOTO] Central Bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja, Nigeria. REUTERS/Afolabi Sotunde/File Photo
The MPR was retained at 11.5 per cent around an asymmetric corridor of +100/-700 basis points. The cash reserve and liquidity ratio were also left at 27.5 and 30 per cent respectively. The Guardian had reported that growing concern about inflationary pressure, global move towards monetary policy normalisation, among others, presented hard choices before the rate-fixing MPC members, as they held their second meeting, earlier scheduled to hold for two days.
“As prices continue to go up, it hits the poor very hard. So, inflation is very important. If I were still a part of the committee, I would consider the likelihood of a further increase in inflation and tinker with the MPR,” Ekpo had insisted.
Source: Loan Digest (loandigest.net)
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