CBN Retains MPR at 14%

By James Emejo in Abuja

The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR), otherwise known as interest rate, at 14 percent.

At the end of its Monetary Policy Committee (MPC) meeting in Abuja, the apex bank also resolved to leave the Cash Reserve Requirement (CRR) unchanged at 22.5 per cent and Liquidity ratio at 30 percent.

The MPR is the rate at which the CBN lend to commercial banks and often determines the cost of borrowing.

Details later…