Central Bank of Nigeria Retains Interest Rate At 11.5%

Africa Podcast Network

The Central Bank of Nigeria’s Monetary Policy Committee retained the Monetary Policy Rate at 11.5% and kept all other parameters unchanged.
CBN Governor Godwin Emefiele made the announcement while addressing journalists at the bank’s headquarters in Abuja.
Lowering the rate could have stimulated more borrowing while raising the rate could have signalled the CBN’s intention to reduce the economy’s money supply.