CBN Reduces Monetary Policy Rate To 11.5%

The Central Bank of Nigeria has cut the Monetary Policy Rate from 12.5 per cent to 11.5 per cent.

Central Bank Governor Godwin Emefiele announced this on Tuesday while presenting a communiqué after the two-day Monetary Policy Committee Meeting in Abuja.

The MPC, however, opted to retain the Cash Reserve Ratio at 27.5 per cent and the liquidity ratio at 30 per cent.

More to follow…