Nigeria, May 25 -- The Central Bank of Nigeria has retained the monetary policy rate at 11.5 per cent, with the assymetric corridor of +100/-700 basis points around the MPR.

The CBN governor, Godwin Emefiele, announced this Tuesday after the Monetary Policy Committee meeting that began Monday.

The bank also retained other parameters.

Addressing journalists at the end of the 2-day meeting of the Monetary Policy Committee (MPC) meeting in Abuja, Mr Emefiele said the committee also voted to retain the Cash Reserve Ratio (CRR) at 27.5 per cent as well as the Liquidity Ratio at 30 per cent.

The move is expected to allow further economic growth, despite four-year high inflation, after the country exited recession last year.

Earlier in the ...