Nigeria: CBN Retains Rates to Sustain Recovery Gains

The Central Bank of Nigeria (CBN) yesterday retained rates across board, citing domestic economy and the uncertainty in the global environment. The decision also tallied with expectations of economy analysts polled by The Guardian ahead of the meeting last weekend.

CBN Governor, Godwin Emefiele, while presenting the communiqué of the Monetary Policy Committee (MPC), pointed out that the consideration of headwinds confronting the domestic activities and the uncertainties shrouding the global environment, there was "a vote of six to two to retain the Monetary Policy Rate (MPR) at 14 per cent."

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