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CBN moves to stabilize deposit money banks
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CBN moves to stabilize deposit money banks

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Image result for CBN moves to stabilize deposit money banksThe Monetary Policy Committee of the Central Bank of Nigeria said the stability of the banking sector is key to economic recovery.

The committee is convinced that the economy needs a new impetus of increased lending by the banking system.

MPC agreed to adopt innovative ways to encourage Deposit Money Banks to accelerate credit growth, including a reduction in the Monetary Policy Rate.

The Deputy Governor, Corporate Services, CBN, Edward Adamu said the banking system stability is a requirement for proper financial intermediation needed to support recovery in output.

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