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CBN Votes To Retain Monetary Policy Rate 11.5%

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The monetary policy committee of the Central Bank of Nigeria (CBN) on Tuesday unanimously voted to retain the monetary policy rate (MPR), which determines interest rate, at 11.5 percent. TheCable reported that Godwin Emefiele, governor of the CBN, announced the committee’s decision at the end of its two-day meeting.

The committee also retained the Liquidity Ratio at 30 percent and Cash Reserve Ratio (CRR) at 27.5 percent.

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