The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at eleven point five per cent.
The CBN Governor, Godwin Emefiele, disclosed this to newsmen after the committee’s two-day meeting in Abuja.
Other parameters left unchanged by the CBN are the Cash Reserve Ratio and Liquidity Ratio at twenty-seven point five per cent and thirty per cent respectively.
The CBN Governor said the MPC believes that the existing parameters have supported the country’s growth recovery.
Emefiele noted that the Committee believed that tightening or losing the rates would be unfavourable to the country’s economic recovery.