JUST IN: CBN MPC Retains 14% Interest Rate, Says Inflation Drop Not Sustainable

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JUST IN: CBN MPC Retains 14% Interest Rate, Says Inflation Drop Not Sustainable

The monetary policy committee of the Central Bank of Nigeria (CBN) has retained the monetary policy rate at 14%.

While reading out the committee’s decision to journalists in Abuja on Thursday, Godwin Emefiele, CBN governor, said the committee thought that the drop in inflation is seasonal and not sustainable.

Emefiele said the upside risk to inflation still remains. All 11 members of the committee voted to hold rates.

The committee also retained the cash reserves ratio and liquidity ratio at 22.5% and 30% respectively, while the asymmetric window was left at +200 and -500 basis points around the MPR.

More to follow…

THE CABLE



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