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Breaking: CBN reduces MPR to 13.5 %

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…as Emefiele expresses optimism for accelerated growth

Emma Ujah, Abuja Bureau Chief

The Central Bank of Nigeria (CBN) has reduced its Monetary Policy Rate (MPR) from 14.0 per cent to 13.5 per cent.

Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele

The Governor of the bank, Mr. Godwin Emefiele, disclosed this, in Abuja, this afternoon, while briefing the press at the end of the 226th Monetary Policy Committee (MPC) meeting.

He said that the decision to loosen the MPT was borne out of the desire to stimulate growth in various sectors of the economy.

IMF members pledge to avoid using currencies as trade weapon

The MPR had been retained at 14 per cent since July 2016.

Details later…

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