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CBN Retains MPR At 14 Percent

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has again retained the Monetary Policy Rate (MPR) at 14 per cent and equally left all other policy parameters unchanged. CBN Governor, Godwin Emefiele, addressing newsmen after the 2-day MPC meeting in Abuja, noted that this became necessary in order to achieve more clarity in the evolution of key macroeconomic indicators including budget implementation, economic recovery, exchange rate, inflation and employment generation.

 

He also disclosed that Cash Reserve ratio (CRR) was left at 22.5 per cent; Liquidity Ratio at 30.0 per cent; and the Asymmetric corridor at +200 and -500 basis points around the MPR. Our Correspondent, Raliat Adenekan reports that the nation’s external reserves stood at at $32.9 billion at the close of work on September 25, 2017 as disclosed by the Apex bank Governor.

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