Breaking: MPC retains benchmark lending rate

The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 14 per cent.
The decision was taken at the two-day meeting of the MPC at the headquarters of the CBN in Abuja.
Announcing the decision to newsmen at the end of the meeting, the Governor of the CBN, Godwin Emefiele, said nine out of the 10 members of the MPC in attendance voted in favor of the retention of the lending rate.
The only dissenting voice voted for an increase.
Emefiele said the committee retained other monetary policy parameters such as the Cash Reserves Ratio at 22.5 per cent, Liquidity Ratio at 30 per cent and the Asymmetric Corridor at 200 basis points.