CBN Monetary Policy Committee retains previous figures, MPR still 14 %

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At the end of its 253rd meeting, for the year 2016, the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) still faced with the challenges of a severely weakened macroeconomic landscape, accentuated by stagflation dilemma, declining economic and business activities, and deepening recessionary trend, voted unanimously to maintain status quo by retaining the.

Monetary Policy Rate (MPR) at 14.0 percent, Asymmetric corridor around the MPR at +200/-500bps; Cash Reserves Ratio (CRR) at 22.5 percent; Liquidity Ratio (LR) at 30.0 percent.

Again the committee which had ten members in attendance, noted that the risk facing the domestic economic is in two folds (i.e. price and output) and reiterate its commitment to price stability.

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