Wednesday, September 28, 2022

Nigeria’s lending rate to remain at 13.5 per cent – CBN

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Rayyan Alhassan
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 CBN Governor, Godwin Emefiele, announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja.

He explained that nine out of the 11 members that attended the meeting agreed to retain the current monetary policy stance.

READ ALSO: CBN slashes interest rate to 13.50 per cent

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.

READ ALSO:   Beware of fake loans — CBN cautions

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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