Breaking: CBN Monetary Policy Committee Leaves All Rates Unchanged
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained all key indicators.
The CBN Governor, Mr Godwin Emefiele, on Tuesday read the communique announcing decisions reached at its September meeting in the nation’s capital, Abuja.
The Minister of Finance had expected that the committee would lower key interest rates.
Speaking on Channels Television earlier in the day, Mrs Kemi Adeosun said that this would help stimulate the economy, especially as the government plans to boost the economy without increasing debt servicing costs.
At the last committee meeting in July, the benchmark Monetary Policy Rate was raised from 12 percent, to 14 percent, while the Cash Reserve Ratio and Liquidity Ratio were both retained, at 22.50 per cent and 30 per cent each.