BREAKING: MPC Retains Interest Rate at 14%

By Dipo Olowookere

The Central Bank of Nigeria (CBN) on Tuesday afternoon announced that members of the Monetary Policy Committee (MPC) have voted to retain the Monetary Policy Rate (MPR) at 14 percent.

Governor of the CBN, Mr Godwin Emefiele, made this announcement after the two-day MPC meeting held in Abuja.

He said 10 members attended the MPC meeting, which started on Monday, while seven of them voted for the interest rate to remain unchanged.

Details later.