By Chidi Ugwu
The Central Bank of Nigeria (CBN) Thursday resolved to retain the Monetary Policy Rate (MPR), the benchmark interest rate, at 27.50 per cent with the asymmetric corridor of +500/-100 basis points around the MPR.
The apex bank, also left all monetary policy tools unchanged, including the Cash Reserve Ratio (CRR) of Deposit Money Banks (DMBs) at 50 per cent, and that of Merchant Banks at 16 per cent as well as the Liquidity Ratio (LR) at 30 per cent.
The retention came amid a deceleration in inflation in January.
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Addressing journalists at the end of the 2-day meeting of the Monetary Policy Committee (MPC) in Abuja, CBN Governor, Mr. Olayemi Cardoso, said the committee was unanimous in its decision to hold rates at current levels.
