The Monetary Policy Committee, MPC of the Central Bank of Nigeria, CBN has resolved to hold all monetary policy indicators based upon the careful balance of nurturing the economic recovery with the threat of inflation, Governor Godwin Emefiele has just announced.
With the development, the Monetary Policy Rate, MPR, which is the base rate for most interest rates will be held at 11.5%.
The MPC took the decision at its third MPC’s meeting of the year. Gov. Emefiele told newsmen in Abuja on Tuesday afternoon that the decision was unanimous.
He said that the bank would be watching developments in the international community in the short term, indicative of possible actions by the apex bank in the event of any untoward developments.
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