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CBN RETAINS BENCHMARK INTEREST RATE AT 11.5%

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Amid inflationary pressures sparked in part by the Russia-Ukraine war, the Central Bank of Nigeria’s Monetary Policy Committee has retained the Monetary Policy Rate MPR at 11.5% and kept all other parameters unchanged.

Addressing journalists on Monday after the committee’s meeting at the CBN headquarters in Abuja, governor of the apex bank, Godwin Emefiele said the committee members voted to hold key rates steady.

The committee also unanimously retained the cash reserve ratio at 27.5 percent as well as the liquidity ratio at 30 percent.




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