CBN retains lending rates at 12%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) yesterday retained the lending rate at 12 per cent with interest rate corridor of +/- 200 base point, just as it also retained the Cash Reserve Requirement (CRR) at eight per cent and Minimum Liquidity Ratio (MLR) at 30 per cent. It also resolved to watch closely development within the fiscal environment and to respond appropriately as the need arises. In arriving at its decision, the committee said it was faced with a choice between two options.
Click here to read full news..