BREAKING: CBN MPC maintains two-year stance on interest rate

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The monetary policy committee
(MPC) of the Central Bank of Nigeria has again retained interest rate at 14
percent, the country’s highest in 10 years.

The committee has maintained this
decision for two consecutive years.
Announcing the committee’s
decision on Tuesday, Godwin Emefiele, CBN governor, said the committee reached
the decision on the consideration to await more clarity on economic activities.
In May 2016, the committee hiked
interest rates to combat rising inflation at that time.
Nine members of the committee
were present at the meeting.

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