Breaking: MPC of CBN retains all economic parameters

Maintains benchmark lending rate remains at 11.5%

After the two days Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) meeting, the members of the committee have unanimously voted to retain the benchmark lending rate at 11.5 per cent on Tuesday.

The CBN Governor, Godwin Emefiele made this disclosure while reading the communique at the end of the MPC meeting on Tuesday 25th May 2021

The Monetary Policy Rate (MPR) is also known as the benchmark lending rate was retained at 11.50 per cent, while the asymmetric corridor of +100/-700 basis points around the MPR.

The Cash Reserves Ratio (CRR) was retained at 27.5 per cent, while the Liquidity Ratio was kept at 30 per cent.