Lending rates remain at 11.5% — CBN

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Factual Pursuit of Truth for Progress

 

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has pegged its key lending rate to remain at 11.5 per cent.

This was part of resolutions at the end of its two-day meeting on Tuesday in Abuja.

The CBN Governor, Godwin Emefiele, mentioned that the committee members unanimously voted to retain the monetary policy rate at 11.5%, whilst keeping all other monetary parameters constant.

Reports reveal that this will be the 6th consecutive time this year that the rates remained unchanged.

The MPC also pointed out that its policy within the last few months is showing results, as reflected in the 4.03% growth in real GDP and the 7th consecutive monthly decline in Nigeria’s headline inflation.

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