Economy
CBN-MPC reduces MPR to 11.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has reduced the nation’s Monetary Policy Rate (MPR) by 100 Basis Points (BPS).
With the reduction, the MPR now stands at 11.5% from 12.5%.
The CBN governor, Godwin Emefiele, made the disclosure on Tuesday afternoon while addressing journalists on decisions of the MPC at its two-day meeting in Abuja.
He said the MPC also voted to adjust the Asymmetric corridor to +100 and -700 around the MPR.
The committee retained Cash Reserve Ratio (CRR) at 27.5% and Liquidity Ratio at 30%.
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