The Monetary Policy Committee (MPC) of Central Bank of Nigeria on Thursday reduced monetary policy rate (MPR), or the controlling lending rate to 12.5 percent, ABN TV reports.
It, however, left other monetary policy parameters unchanged.
Reading the communique of the meeting, CBN Governor, Mr. Godwin Emefiele, said the MPC resolved to retain the Liquidity Ratio at 30 percent, Cash Reserve Requirement (CRR) at 27.5 percent and the asymmetric corridor at +200/-500 basis points around the MPR.
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