This is the outcome of the third monetary policy committee meeting of the central bank in 2019.
CBN MPC retains interest rate at 13.5% in July meeting
The Central Bank of Nigeria (CBN) monetary policy committee (MPC), on Tuesday, retained key lending rate at 13.5%.
Godwin Emefiele, CBN governor, while reading communique at the end of the two-day in Abuja, said the committee cut the lending rate to 13.5% while retaining CRR at 22.5% and Liquidity Ratio at 30%.
Emefiele said all members retained key lending rates constant.
This is the rate at which CBN lends to the real sector and often determines the cost of borrowing.
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