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13.5% lending rate remains, Emefiele vows

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Rayyan Alhassanhttps://dailynigerian.com/author/rayyan/
Rayyan Alhassan is a graduate of Journalism and Mass Communication at Sikkim Manipal University, Ghana. He is the acting Managing Editor at the Daily Nigerian newspaper, a position he has held for the past 3 years. He can be reached via [email protected], or www.facebook.com/RayyanAlhassan, or @Rayyan88 on Twitter.
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The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday left the Monetary Policy Rate unchanged at 13.5 per cent.

The Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, on Tuesday vowed that the Monetary Policy Rate would remain unchanged at 13.5 per cent.

Mr Emefiele made the avowal at the end of a two-day meeting held at the apex bank’s headquarters in Abuja.

According to him, the decision was arrived at following deliberations by the Monetary Policy Committee of the apex bank.

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He disclosed that all the 11 members of the committee agreed to retain the current monetary policy stance.

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He said apart from the MPR that was retained at 13.5 per cent, the committee decided to hold the Cash Reserves Ratio at 22.5 per cent.

Also retained are the Liquidity Ratio which was left at 30 per cent; and the Asymmetric Window which was left at +200 and -500 basis points around the MPR.

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