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Breaking: CBN retains MPR at 11.5%

Published

6 years ago

on

November 24, 2020

By

Feyijimi Emmanuel

CBN rewards Plateau farmers for paying loans on time

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has voted unanimously to keep the Monetary Policy Rate (MPR), at 11.5%.

This was disclosed by Governor, CBN, Godwin Emefiele while reading the communique at the end of the MPC meeting on Tuesday. Other parameters such as Cash Reserve Ratio (CRR), Liquidity ratio, and asymmetric corridor remain unchanged.

The committee highlighted that inflation continues to be influenced by structural policies, increase in petrol price and latest #EndSARS protest.

MPR was kept at 11.50%, while the asymmetric corridor of +100/-700 basis points around the MPR and CRR was retained at 27.5%. While Liquid Ratio was also kept at 30%

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