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CBN Reduces Interest Rate To 12.5%

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The Central Bank of Nigeria has reduced Monetary Policy Rate (MPR) from 13.50% to 12.50% and retained CRR at 27.5%, Liquidity ratio at 30%.

CBN Reduces Interest Rate To 12.5%
CBN Reduces Interest Rate To 12.5%

The MPR is used by the apex bank through the Monetary Policy Committee to control interest rates.

The CBN Governor Godwin Emefiele, disclosed this while reading the communique at the end of the MPC meeting on Thursday in Abuja.

Meanwhile, other parameters such as the Cash Reserve Ratio (CRR) remained at 27.5%, Liquidity ratio at 30%.

Adelowo Adegboyega
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