{"id":29377,"date":"2019-01-22T15:30:36","date_gmt":"2019-01-22T14:30:36","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=29377"},"modified":"2019-01-22T15:30:36","modified_gmt":"2019-01-22T14:30:36","slug":"cbn-mpc-holds-rates-for-15th-consecutive-time","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/cbn-mpc-holds-rates-for-15th-consecutive-time\/","title":{"rendered":"CBN MPC Holds Rates For 15th Consecutive Time"},"content":{"rendered":"

The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has again retained the monetary\u00a0policy rate, which determines interest rate, at 14%, the country\u2019s highest in 10 years.<\/p>\n

This is the 15th time that the committee has left the rate unchanged.<\/p>\n

Godwin Emefiele, governor of the Central Bank of Nigeria, announced the committee\u2019s decision at the bank\u2019s headquarters on Tuesday.<\/p>\n

According to the governor, all members of the committee were in attendance and all were in support of retaining rates.<\/p>\n

The committee also retained the Cash Reserves Ratio at 22.5 per cent, Liquidity Ratio at 30 per cent; and the Asymmetric Window which was at +200 and -500 basis points around the MPR.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u201cThe committee continued recovery in output growth of the economy. output growth is expected to expand further. Output for growth remains fragile on the late implementation of the 2018 budget and after effects of flooding,\u201d he said.<\/p>\n

According to the governor, credit to government grew by 33.7% against 7.4% benchmark.<\/p>\n

\u201cThe near term risk to inflation remains campaign-related spending, the after-effect of flooding and insecurity in some of the food producing parts of the country,\u201d he said.<\/p>\n

\u201cThe outlook for inflation to increase in the near term before it gradually decreases by mid-year.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has again retained the monetary\u00a0policy rate, which determines interest rate, at 14%, the country\u2019s highest in 10 years. This is the 15th time that the committee has left the rate unchanged. Godwin Emefiele, governor of the Central Bank of Nigeria, announced the committee\u2019s …<\/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":[23,1593,17,624],"tags":[36,1916],"coauthors":[2391],"class_list":["post-29377","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-cbn","tag-mpc"],"yoast_head":"\nCBN MPC Holds Rates For 15th Consecutive Time - National Wire<\/title>\n<meta name=\"description\" content=\"The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has again retained the monetary\u00a0policy rate, which determines interest\" \/>\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-mpc-holds-rates-for-15th-consecutive-time\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN MPC Holds Rates For 15th Consecutive Time - 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