The Monetary Policy Committee of the Central Bank of Nigeria has retained the benchmark interest rate, MPR at 11.5%, whilst other monetary parameters remain unchanged.

This was disclosed by the CBN Governor, GODWIN EMEFIELE, while reading the communique at the end of the 282nd Monetary Policy Committee meeting.

The MPC stated that its policy over the previous months has begun to show results, owing to the 4.03% growth in real GDP and the 6th consecutive monthly decline in headline inflation.

The CBN governor noted the continued moderation in the headline inflation, which he attributed to a marginal decline in the food and core components of the inflation index in October 2021.

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