>
The Central Bank of Nigeria (CBN) has decided to retain interest rate at 14 percent in a bid to sustain its battle against inflation.
The CBN’s monetary policy committee (MPC) took the decision on Tuesday after its meeting.
CBN governor, Godwin Emefiele, also announced that the committee decided to keep cash reserve ratio (CRR) and liquidity ratio at 22.5 percent and 30 percent respectively.
According to Emefiele, nine of 10 members present at the meeting decided unanimously to keep the asymmetric corridor at +200 and +500 basis points.
The MPC also asked that the Federal Government expedite action in implementing the Economic Recovery and Growth Plan.