JUST IN:CBN retains lending rate at 11.5%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate at 11.5 per cent.

The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja on Tuesday.

It also retained the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively.

At the last MPC meeting in September, the committee reduced the MPR from 12.5 per cent to 11.5 per cent.

Details later….