The Central Bank Monetary Policy Committee Voted to Keep its Benchmark Interest rate at 13% today The Committee decided by a vote of 8 to 4 to retain the Monetary Policy Rate at its current level of 13 per cent, by a unanimous vote to retain the CRR at 31 per cent while 4 members […]
The Central Bank Monetary Policy Committee Voted to Keep its Benchmark Interest rate at 13% today
The Committee decided by a vote of 8 to 4 to retain the Monetary Policy Rate at its current level of 13 per cent, by a unanimous vote to retain the CRR at 31 per cent while 4 members voted to remunerate the CRR.
This the CBN voted to retain the MPR at 13 per cent with a corridor of +/- 200 basis points around the midpoint;
Retain the CRR at 31 per cent; and
To retain the symmetric corridor of 200 basis points around the MPR.
Godwin Emefiele also opposed devaluation again and also rejected the idea of loosening the FX curbs, saying the central bank could not adopt an “indeterminate policy” of currency depreciation
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