{"id":15901,"date":"2017-07-25T16:56:42","date_gmt":"2017-07-25T15:56:42","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=15901"},"modified":"2017-07-25T17:00:30","modified_gmt":"2017-07-25T16:00:30","slug":"cbn-keeps-interest-rate-14-percent","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/cbn-keeps-interest-rate-14-percent\/","title":{"rendered":"CBN keeps interest rate at 14 percent"},"content":{"rendered":"<p>The monetary policy committee of the Central Bank of Nigeria (CBN) has retained monetary policy rate (MPR) at 14 percent and all other parameters at their current levels for 12 months running.<\/p>\n<p>On July 26, 2016, the committee voted to raise MPR from 12 percent in May, 2016 to 14 percent, the highest in at least 10 years.<\/p>\n<p>It also decided that the cash reserve ratio (CRR) and liquidity ratio be maintained at 22.5 percent and 30 percent respectively.<\/p>\n<p>\u201cThe MPC was further concerned that while the situation called for obvious tightening of the monetary policy stance, the technical recession confronting the economy and the prospects of negative growth to year-end needed to be factored into the policy parameters,\u201d Godwin Emefiele, governor of the CBN, had said in 2016.<\/p>\n<p>Holding the same stance a later, the CBN has effectively held on to the same interest rate of 14 percent through out the country\u2019s latest economic recession, which was confirmed in August 2016.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>While addressing the press in Abuja, after the MPC meeting on Tuesday, Emefiele said the committee decided to hold rates, hinging the bank\u2019s decision on the need to halt inflation while also supporting growth.<\/p>\n<p>The committee lamented insecurity in the Niger Delta, in the north-east and across regions where pockets of herdsmen activities remain violent.<\/p>\n<p>Emefiele said the MPC sees the slow implementation of the 2017 budget as a challenge, calling on the fiscal authorities to speed up the process in line with the economic recovery and growth plan (ERGP).<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The monetary policy committee of the Central Bank of Nigeria (CBN) has retained monetary policy rate (MPR) at 14 percent and all other parameters at their current levels for 12 months running. On July 26, 2016, the committee voted to raise MPR from 12 percent in May, 2016 to 14 percent, the highest in at &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":14906,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[36],"coauthors":[2391],"class_list":["post-15901","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-cbn"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CBN keeps interest rate at 14 percent - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/cbn-keeps-interest-rate-14-percent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN keeps interest rate at 14 percent - National Wire\" \/>\n<meta property=\"og:description\" content=\"The monetary policy committee of the Central Bank of Nigeria (CBN) has retained monetary policy rate (MPR) at 14 percent and all other parameters at their current levels for 12 months running. 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