The Monetary Policy Committee in Nigeria has retained a 14% Monetary Policy Rate at the end of its first meeting for 2017.
The rate was announced by the Governor of the Central Bank, Mr Godwin Emefiele, at the end of the meeting held on Tuesday in the nation’s capital, Abuja.
He said the decision was reached after the committee members considered the economic outlook of Africa’s largest economy.
The liquidity ratio and the Cash Reserve Ratio (CRR) were also unchanged.
While the liquidity ratio remains 30% the CRR is 22.50%.
Ten out of 11 members of the committee were present at the meeting.
More details later.
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