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Home Economics

Monetary Policy Committee of the Central Bank of Nigeria Retains MPR Rate at 11.5%

Rate Captain by Rate Captain
November 23, 2021
in Economics, News, Politics
Reading Time: 1 min read
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Central Bank of Nigeria's (CBN) governor Godwin Emefiele gives a press conference on the naira devaluation during a media briefing in Abuja on June 15, 2016. Nigeria's central bank said today it will ease currency controls and allow the naira to devalue as the country works to attract investment amid a worsening economic outlook. Central Bank of Nigeria (CBN) governor Godwin Emefiele said in a televised speech from Abuja that the currency market will be "purely market driven". / AFP / PHILIP OJISUA (Photo credit should read PHILIP OJISUA/AFP/Getty Images)

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The Central Bank of Nigeria (CBN) has voted unanimously to retain the benchmark interest rate (MPR) at 11.5%. Furthermore, all monetary parameter has been held constant

Godwin Emefiele,The Governor of the Central Bank disclosed this information at the end of the 282nd Monetary Policy Committee meeting on Tuesday, 23rd November 2021.

Apotheosis of the Monetary Policy Meeting

  • Liquidity Ratio remains at 30%.

  • Monetary Policy Rate (MPR) retained at 11.50%.

  • The asymmetric corridor of +100/-700 basis points around the MPR remains constant.

  • Cash Reserve Ratio (CRR) remains at 27.5%.

 

More details Shortly…..

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