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CBN Retains Interest At 11.5%

The monetary policy committee of the Central Bank of Nigeria (CBN) has retained the monetary policy rate(MPR) at 11.5%.

The committee also retained the Liquidity Ratio at 30 percent and Cash Reserve Ratio (CRR) at 27.5 percent.

Governor of the Central Bank of Nigeria, Godwin Emefiele announced this on Tuesday after its two-day meeting.

This development is coming days after a new report released by the Nigeria Bureau of Statistics, ds=isclosed that Nigeria has plunges into another recession after the economy contract in the third quarter of this year.

According to Emefiele, the recession was anticipated and measures were put in place to manage its impact

More to follow.

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