BREAKING: CBN Retains Benchmark Interest Rate At 11.5%

CBN
CBN Governor, Godwin Emefiele
  • Central Bank of Nigeria (CBN) has maintained MPR at 11.5%, holding other key rates constant.

EKO HOT BLOG reports that the monetary policy committee of the Central Bank of Nigeria (CBN) has voted to retain the monetary policy rate (MPR), which measures interest rate, at 11.5 percent.

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Addressing journalists on Tuesday after the committee’s two-day meeting at the CBN headquarters in Abuja, Godwin Emefiele, governor of the apex bank, said the committee members unanimously retained key rates constant.

According to Emefiele, the committee voted to maintain the key lending rate at 11.5 percent, with the asymmetric corridor of +100 and -700 basis points around the MPR.

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Jesuwale Stephen is a journalist who finished from the Nigerian Institute of Journalism. He is a distinctive writer, media strategist and also a Digital Marketer