The Monetary Policy Committee of the Central Bank of Nigeria on Thursday reduced the Monetary Policy Rate to 12.5 percent.
The CBN Governor, Mr. Godwin Emefiele, announced the decision of the Committee in Abuja, at the end of its virtual 273rd meeting.
The committee had retained the MPR at 13.5 percent at the last MPC meeting in March.
It, however, retained the Cash Reserve Ratio and the liquidity ratio at 27.5 percent and 30 percent respectively.
Details later…