• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Wednesday, May 25, 2022
  • Login
  • Register
Business Post
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Business Unlimited

CBN Retains MPR at 11.5%

Nwanne Ikemefune by Nwanne Ikemefune
January 27, 2021
in Business Unlimited
0 0
0
CBN Retains MPR at 11.5%

Mr. Godwin Emefiele CBN Governor

0
SHARES
32
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

The Central Bank of Nigeria (CBN), has retained the Monetary Policy Rate (MPR) at 11.5 per cent at its 277th Monetary Policy Committee MPC meeting, the first this year on Tuesday, and the decision was unanimous.

Mr Godwin Emefiele, Governor of the CBN disclosed this while reading the communiqué from the meeting. He also said the MPC agreed to retain cash reserve ratio (CRR) at 27.50 percent, liquidity ratio at 30 percent and the asymmetric window at plus 100 and and minus 700 basis points around the MPR. All prevailing rates were equally agreed on during the last MPC meeting on November 24, 2020.

The CBN governor said the committee was confronted with policy choices, either to aggressively reverse inflationary pressure in the country or support measures aimed at enhancing growth and reversing the current economic recession.

“MPC agreed to reverse the inflationary trend and pursue price stability in the growing economy. MPC agreed that an aggressive expansionary measure may worsen inflation and result to negative consequences on the exchange rates.

“On this basis, MPC agreed to hold all basic parameters constant. MPC was of the view that the CBN should pursue its strategy of systematic synchronisation  of monetary and fiscal policy accommodation through its development finance initiatives aimed at mitigating the impact of the COVID-19 pandemic on Nigerians,’’ he said.

Emefiele said that the committee encouraged the Federal Government not to consider another wholesale lockdown of the economy so as not to reverse the gains of the various economic stimulus packages provided in 2020.

“It also encouraged the CBN to improve credit facilities to households, Micro, Small and Medium Enterprises (MSMEs),  the  health sector as well as the agriculture and manufacturing sectors,’’ he said. He explained that such a move was expected to increase manufacturing output and improve the GDP.

Previous Post

World Bank Supports Central Asia Multi-Peril Risk Assessment

Next Post

Wind Of Change Coming For ECOWAS Brown Card

Nwanne Ikemefune

Nwanne Ikemefune

Next Post
Wind Of Change Coming For ECOWAS Brown Card

Wind Of Change Coming For ECOWAS Brown Card

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
ILAN Picture

Loss Adjusters Receive Charge To Match Speed Of New Developments

April 3, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

April 3, 2022
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
ncrib logo

NCRIB And Universal In Pictures

August 23, 2020
How Strong Is The Reinsurance Sector Going Into 2021?

How Strong Is The Reinsurance Sector Going Into 2021?

349
Scib CEO Tinubu

Professionals Want Value Dimension Added To Enhance Compulsory Insurance

48
PenCom Trigger Lifts Transfer System Off The Starting Block With Split Responsibilities

Pension Funds Encounter First Waterfall

42
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

41
NAICOM Head office

Insurance Industry, NAICOM Commit All For Full Exploration of AfCFTA Benefits

May 25, 2022
Adegbayi A

Nigeria Liability Pool 2021 Performance Outpaces Insurance Results

May 25, 2022
Russia-Ukraine Conflict Thwarting Global Recovery

Russia-Ukraine Conflict Thwarting Global Recovery

May 24, 2022
Image Spin: Finance Minister Commissions No Place To Hide NAICOM Portal

FG Commends NAICOM Rolls Out More Challenges

May 21, 2022

Recent News

NAICOM Head office

Insurance Industry, NAICOM Commit All For Full Exploration of AfCFTA Benefits

May 25, 2022
Adegbayi A

Nigeria Liability Pool 2021 Performance Outpaces Insurance Results

May 25, 2022
Russia-Ukraine Conflict Thwarting Global Recovery

Russia-Ukraine Conflict Thwarting Global Recovery

May 24, 2022
Image Spin: Finance Minister Commissions No Place To Hide NAICOM Portal

FG Commends NAICOM Rolls Out More Challenges

May 21, 2022
Brexit Spin-off: Nigerian High Commission Promises Soft Landing For Nigerian Insurance Brokers

African Delegates To BIBA Secure African Issues Presentation In Subsequent Conferences

May 21, 2022
Africa Insurance Solutions Sought To Douse Uninsured Risks And Lift Penetration Level

NEM Insurance Positive Ticks Surround 2021 Performance

May 23, 2022
Image Spin: Finance Minister Commissions No Place To Hide NAICOM Portal

NAICOM Harvests Real Time Statistical Data, Raises Market Transparency

May 23, 2022
Image Spin: Finance Minister Commissions No Place To Hide NAICOM Portal

Image Spin: Finance Minister Commissions No Place To Hide NAICOM Portal

May 20, 2022
Access Holdings Plc Sets To Clinch Majority Stake In First Guarantee Pension

Access Holdings Plc Sets To Clinch Majority Stake In First Guarantee Pension

May 19, 2022
NAICOM Tells Operators To Match Its Speed, Take Over Secured Markets

College of Insurance Supervisors Charged To Harness Global Standards Fitting For West Africa

May 18, 2022
Brexit Spin-off: Nigerian High Commission Promises Soft Landing For Nigerian Insurance Brokers

Brexit Spin-off: Nigerian High Commission Promises Soft Landing For Nigerian Insurance Brokers

May 18, 2022

Sovereign Trust Performance Soars In Q1 2022, Rises By 37% Over 2021

May 16, 2022
NAICOM Tells Katsina Government And Citizens That Insurance Is A Major Factor For Life And Businesses

Katsina Govt Jabs Mild Insurance Enforcement, Embraces Call For Insurance Partnership

May 16, 2022
NAICOM Tells Katsina Government And Citizens That Insurance Is A Major Factor For Life And Businesses

NAICOM Tells Katsina Government And Citizens That Insurance Is A Major Factor For Life And Businesses

May 13, 2022
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel

Recent News

NAICOM Head office

Insurance Industry, NAICOM Commit All For Full Exploration of AfCFTA Benefits

May 25, 2022
Adegbayi A

Nigeria Liability Pool 2021 Performance Outpaces Insurance Results

May 25, 2022
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2020 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2020 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In