CBN retains interest rate at 11.5% – Godwin Emefiele

November 24, 2020

The monetary policy rate (MPR) which determines interest rate has been retained at 11.5 percent by the Central Bank of Nigeria. 

This was announced by CBN Governor Godwin Emefiele who read out a communique at the end of the Monetary Policy Committee (MPC) meeting on Tuesday November 24. 

Other parameters such as Cash Reserve Ratio (CRR), Liquidity ratio, and asymmetric corridor remain unchanged at the end of the meeting.  

The committee also noted that inflation continues to be influenced by structural policies, increase in petrol price and latest #EndSARS protest.

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