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MPC Decision Day: CBN Gov. Emefiele Reads Communique
Posted
September 20, 2016
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702
September 20, 2016
702
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10:08
4:47
29:35Now PlayingThe Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained all key indicators.
The CBN Governor, Mr Godwin Emefiele, on Tuesday read the communique announcing decisions reached at its September meeting in the nation's capital, Abuja.
The committee agreed to keep the Monetary Policy Rate at 14 per cent, the Cash Reserve Ratio at 22.50 per cent and the Liquidity Ratio at 30 per cent.
Mr Emefiele explained that while challenges in the economy remained, monetary policy alone could not boost growth. "Cutting interest rates is not advisable and the current stance will help to limit inflation," he said.
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