CBN retains monetary rates; gives reasons

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CBN retains monetary rates; gives reasons   Aligning with analysts’ speculations from various quarters, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), on Tuesday, unanimously voted to retain the benchmark Monetary Policy Rate (MPR) at 11.5 per cent; and the asymmetric corridor of +100/-700 basis points around the MPR. At the end of the two-day meeting, the first for the year 2021, the committee’s 12 members, once again “confronted with a policy dilemma as to whether to aggressively combat the inflationary pressure or support measures currently…

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