Take a fresh look at your lifestyle.

JUST IN: CBN slashes cost of loans as MPC cuts MPR to 11.5%

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has announced that the monetary policy rate (MPR), which determines interest rates, would be reduced by 100 basis points from 12.5 percent to 11.5 per cent.

Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, disclosed the committee’s decision, on Tuesday, at the end of its two-day meeting.

READ http://Navy releases new postings of senior officersALSO:

The implication of this new development is that the cost of getting a loan will reduce.

Mr. Emefiele said the committee retained the cash reserve ratio at 27.5 per cent because it was of the opinion that the recent inflationary pressures are driven by structural policies, not monetary policy.

Details later…

Comments
Loading...