MPC raises monetary policy rate to 12 percent

FELIX OLOYEDE
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) to 12% from 11%.

This is an outcome of its 2-day meeting which started on Monday in Abuja, the second for the year 2016.

At the last meeting in January, the MPC maintained the monetary policy rate, the cash reserve requirement, and the liquidity ratio at 11%, 20% and 30% respectively.

Details later…