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Key Lending Rate Stays at 14 %

For over two years now, the monetary policy committee of the Central Bank of Ngeria has kept the key lending rate unchanged at 14 per cent. In the first meeting of the Committee for the year, the Cash Reserves Ratio (CRR) also remained unchanged at 22.5 per cent, liquidity at 30 per cent and Asymmetric corridor at +200 and-500 basis points around the MPR.
Giving an insight to what informed the committee’s decisions, CBN Governor, Godwin Emefiele said concerns were raised on the impact of the continued trade tension between United States of America and China, as well as the Brexit situation in Europe.
On the domestic risk to growth, he mentioned the persistent security challenge in the North East, the herdsmen attack in other regions
and perceived political risk due to the upcoming general elections.

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