The Central Bank
of Nigeria today retained its policy rate at 13 percent, facing a currency at
record lows and inflationary risks linked to a collapse in world oil prices.
CBN Governor,
Godwin Emefiele gave the bank's Monetary Policy Committee decision, after
noting that inflation remained within its targets but faced risks ahead.
He announced
no further moves on the naira's band, which the bank devalued by 8 percent in
November in a bid to halt a slide in its reserves. Nigeria's liquidity ratio
was retained at 30 percent.
It would be
recalled that the apex bank raised interest rates at the last meeting for the
first time in two years, in November, by 100 basis points.
No comments:
Post a Comment