MPC retains MPR at 11.5%, other parameters unchanged

MPC retains MPR at 11.5%, other parameters unchanged

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted unanimously to retain the Monetary Policy Rate (MPR) at 11.5 per cent.

This was disclosed by the CBN Governor, Godwin Emefiele while reading the communiqué at the end of the MPC meeting on Tuesday 25th May 2021.

the decision of the committee resonates with projections already made by experts at different quarters who said holding the current rate in the face of inflation  at double digit is the wise thing for the apex bank.

Highlights of the Committee’s decision

MPR retained at 11.50%

The asymmetric corridor of +100/-700 basis points around the MPR

CRR was retained at 27.5%

While Liquidity Ratio was also kept at 30%