BREAKING: CBN Retains MPR at 14%, Liquidity Ratio at 30%

By Dipo Olowookere

The Central Bank of Nigeria (CBN) on Tuesday announced retaining the key rates at their current levels.

At the end of its 262nd Monetary Policy Committee (MPC) meeting today, the CBN Governor, Mr Godwin Emefiele, informed business journalists that the committee agreed to leave the Monetary Policy Rate (MPR) at 14 percent.

Business Post, which attended the briefing held in Abuja this afternoon, reports that Mr Emefiele said the liquidity ratio is at 30 percent.

Furthermore, the nation’s chief banker also said the MPC agreed that the Asymmetric Corridor should be at +200bps/-500bps, while the Cash Reserve Ratio (CRR) is at 22.5 percent.

The MPC meeting started yesterday at the 11th Floor, Wing C of the Central Bank of Nigeria Headquarters in Abuja and concluded today with the announcement.

The meeting was chaired by Mr Emefiele with key stakeholders in the financial sector in attendance to brainstorm on the financial stability of Nigeria.