Breaking: CBN retains MPR at 11.5 %, goes after illegal FX operators
By Emma Ujah, Abuja Bureau Chief
The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR), at 11.5 per cent and the asymmetric corridor of +100/-700 basis points around the MPR.
The CBN Governor, Mr. Godwin Emefiele, who briefed the press at the end of the Monetary Policy Committee (MPC) meeting in Abuja, this evening, announced that the Cash Reserve Ratio at 27.5 percent and 30 Liquidity Ratio were equally maintained.
According to him, the MPC retained the MPR , along with other parameters, in its decision to allow the necessary stability for policy objectives to come to fruition.
Gov. Emefiele also said that the CBN would go after illegal operators in the foreign exchange market with a view to halting them from frustrating the bank’s policy measures towards a stable Naira.