CBN retains interest rate at 11.5%

CBN retains interest rate at 11.5%

The monetary policy rate (MPR) which determines the interest rate has been retained at 11.5 percent by the Central Bank of Nigeria.

This was announced by CBN Governor Godwin Emefiele who read out a communique at the end of the Monetary Policy Committee (MPC) meeting on Tuesday, November 24.

Other parameters such as Cash Reserve Ratio (CRR), Liquidity ratio, and asymmetric corridor remain unchanged at the end of the meeting.

The committee also noted that inflation continues to be influenced by structural policies, an increase in petrol price, and the latest #EndSARS protest.