CBN retains MPR at 14%

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The Central Bank of Nigeria (CBN) Tuesday resolved to leave the Monetary Policy Rate (MPR), otherwise known as interest rate, at 13.5 per cent.

It also retained other parameters including Cash Reserve Requirements (CRR) at 12.5 per cent and Liquidity Ratio at 30 per cent.

Addressing journalists at the end of the two-day meeting of the Monetary Policy Committee (MPC) meeting, the CBN Governor, Mr Godwin Emefiele, said a tightening monetary policy stance was not an option, as key macroeconomic indicators are trending in the right direction.

The MPR is the rate at which the CBN lends to the real sector and often determines the cost of borrowing.

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