CBN MPC Drops MPR From 12.5% To 11.5%

CBN Governor, Mr. Godwin Emefiele.

SAN FRANCISCO, September 22, (THEWILL) – The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has reduced the nation’s Monetary Policy Rate (MPR) by 100 Basis Points (BPS) from 12.5% to 11.5%

The CBN governor, Godwin Emefiele, made the disclosure on Tuesday afternoon while addressing journalists on decisions of the MPC at its two-day meeting in Abuja.

He said the MPC also voted to adjust the Asymmetric corridor to +100 and -700 around the MPR.

The committee retained Cash Reserve Ratio (CRR) at 27.5% and Liquidity Ratio at 30%.