Godwin Emefiele, the governor of the Central Bank of Nigeria has just announced that the CBN has inflated its ideal benchmark lending to 18.5% from 18%, in a bid to accommodate the country’s inflation pressure.
This news was announced after the Central Bank’s monetary policy meeting had concluded on Wednesday, May 23.
Meanwhile, Mr Emefiele has addressed news reporters, stating that the committee had voted to keep the asymmetric corridor at a postive hundred (+100 ) and a negative seven hundred (-700) basis points around the MPR.
Additionally, Emefiele had revealed that the MPC had voted to keep the Cash Reserve Ratio (CRR) at 32.5% while the Liquidity Ratio was retained at 30%.
