Nigeria’s central bank held its benchmark interest rate at 14 percent on Tuesday, its governor said. The CBN Governor, Mr Godwin Emefiele who announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja explained that the six members of the committee agreed to maintain the current monetary policy stance.
He, however, said that two members voted to ease monetary policy rate. He said apart from the MPR which was retained at 14 per cent, the committee also retained the Cash Reserves Ratio at 22.5 per cent.
Also retained are the Liquidity Ratio which was left at 30 per cent; and the Asymmetric Window which was left at +200 and -500 basis points around the MPR.