James Emejo in Abuja

The Central Bank of Nigeria (CBN) Tuesday resolved to leave the monetary policy parameters, including the Monetary Policy Rate (MPR), the benchmark interest rate, unchanged at current levels.
The Monetary Policy Committee (MPC) of the apex bank unanimously voted to hold policy, retaining the MPR, the rate at which commercial banks borrow from the central bank, at 27.50 per cent.
The committee also retain the asymmetric corridor around the MPR at +500/-100 basis points, Cash Reserve Ratio of Deposit Money Banks at 50 per cent and Merchant Banks at 16 per cent, and left the Liquidity Ratio unchanged at 30 per cent.
Addressing journalists after the MPC meeting in Abuja, CBN Governor, Mr. Olayemi Cardoso,,said the move aimed to sustain the momentum of disinflation.
He said the decision further aimed to address inflationary pressures in the economy.
He said the apex bank will continue to assess developments to guide informed monetary policy decisions.

Details later…