MPC retains benchmark interest rate at 11.5% as other parameters remain constant
MPC retains benchmark interest rate at 11.5% as other parameters remain constant
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has voted unanimously to retain the Monetary Policy Rate (MPR) at 11.5% while holding other parameters constant.
This was disclosed by the CBN Governor, Godwin Emefiele while reading the communique at the end of the MPC meeting on Tuesday 27th July 2021.
Highlights of the Committee’s decision:
MPR retained at 11.50%
The asymmetric corridor of +100/-700 basis points around the MPR
CRR was retained at 27.5%
While Liquidity Ratio was also kept at 30%
CBN reduces MPR from 12.5% to 11.5%
CBN retains MPR at 11.5%, holds other parameters constant
MPC votes to retain MPR at 11.5%, other parameters
