Central Bank of Nigeria Retains Interest Rate At 11.5%

The Central Bank of Nigeria’s Monetary Policy Committee retained the Monetary Policy Rate at 11.5% and kept all other parameters unchanged. <br />CBN Governor Godwin Emefiele made the announcement while addressing journalists at the bank’s headquarters in Abuja. <br />Lowering the rate could have stimulated more borrowing while raising the rate could have signalled the CBN’s intention to reduce the economy’s money supply.