CBN retains Monetary Policy Rate at 11.5%

The Central Bank of Nigeria’s  (CBN) Monetary Policy Committee (MPC) at its meeting on Tuesday voted to retain the Monetary Policy Rate (MPR) at 11.5% .

The Committee also agreed to retain CRR at 27.50% and liquidity ratio at 30%.

The CBN MPC maintains Assymetric Window of +100 and -700 basis points around the MPR.

Meanwhile, the CBN Governor, Godwin I. Emefiele, maintains that Nigeria has not changed its Foreign Exchange Policy from a managed float regime.  #Emefiele

#CBNMPC March 2021 MPC meeting votes to retain MPR at 11.5% pic.twitter.com/JlYm1YxgUt

— Central Bank of Nigeria (@cenbank) March 23, 2021

Amaka E. Nliam