Faced with the dilemma of an economic recession and rising inflation, the Central Bank of Nigeria's (CBN) Monetary Policy Committee (MPC) at the end of its fifth meeting for the year held last week, resolved to leave interest rate as well as other key monetary policy tools unchanged.
Specifically, the committee decided to retain the Monetary Policy Rate (MPR) at 14 per cent, left the cash reserve requirement (CRR) at 22.5 per cent as well as the liquidity ratio at 30 per cent.
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