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Business CBN MPC Retains Interest Rate At 14%



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The Central Bank of Nigeria (CBN) monetary policy committee (MPC) retained all monetary policies rates.

The committee said inflation was down, year-on-year, but the food index rose in February from figures recorded in January, mounting pressure on consumers.


Godwin Emefiele, governor of the bank, announced that the committee decided to keep key interest rate at 14 percent, while cash reserve ratio (CRR) and liquidity ratio were held at 22.5 percent and 30 percent respectively.

More to come...