CBN MPC Retains Rates At 11.5%
The Central Bank of Nigeria (CBN’s) Monetary Policy Committee has maintained its key lending rate at 11.5 per cent.
At the end of its two-day meeting on Tuesday in Abuja, the CBN Governor, Godwin Emefiele, mentioned that the committee members unanimously voted to retain the monetary policy rate at 11.5%, whilst keeping all other monetary parameters constant.
This will be the 6th consecutive time this year that the rates remained unchanged.
The MPC also pointed out that its policy within the last few months is showing results, as reflected in the 4.03% growth in real GDP and the 7th consecutive monthly decline in Nigeria’s headline inflation.