CBN Retains Monetary Policy Rates At 11.5 Percent

The monetary policy committee of the Central Bank of Nigeria (CBN) has retained the monetary policy rate at 11.5 percent.
The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja., adding that the cash reserve ratio and liquidity ratio have also been retained at 27.5 percent and  30 percent respectively.

While noting that the economy has succeeded in exiting the recession,  Emefiele noted that the recovery is very fragile, given that the gross domestic product (GDP) of 0.51 percent is still far below the population growth rate.

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