Nigeria’s Central Bank keeps all monetary policy rates unchanged

In view of president Donald Trump and he’s administration’s treat to review United States trade agreement with countries around the world, Nigeria’s Central Bank has decided to retain all monetary policy rates, this, it believes will forestall any negatively impact of global economy.

Mr. Godwin Emefiele

Mr. Godwin Emefiele

The decision was reached at the Monetary Policy Committee meeting, and the monetary policy rate for banks and businesses was retained at 14 per cent, while Cash Reserve Ratio (CRR) was left at 22.5 per cent and liquidity ratio at 30 per cent.
Mr. Godwin Emefiele, the CBN governor told journalist at the end of the meeting that the liquidity ratio was kept within the symmetric WINDOWof +200 and -500 basis points around the MPR.
He noted that the economy is still in recession, and it is time government stepped up efforts to settle domestic indebtedness to states to help revamp the economy.

 

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