The Monetary Policy Committee has raised the key lending rate by zero point five percent to 18.5%. It however left the cash reserve requirement and liquidity ratio at 32.5% and 30% respectively.
The apex bank also adds that its consistent rate hikes have helped control inflation which should have risen to about 30.48% in April.
The Monetary policy rate has been consistently raised by the monetary policy committee this year.
It was increased by 1% to 17.5% in January, zero point five percent to 18% in March and now a fifty basis points raise to 18.5% in May.
The committee says holding or loosening is not desirable at this time , hence the need to tighten.
The CBN governor says the current monetary policy stance is moderating inflation and would consolidate existing gains.
He adds that the 22.2% percent inflation rate seen in April would have been 30.48% but for the key lending rates which were raised.
The governor adds that though the tightened monetary policy stance is constraining credits it is a necessary action whose gains would be seen in the long run.
The bank also feels there is a need for the nation to ramp up oil production which presently stands at one point one million barrels per day to the level of OPEC’s quota of 1.8m barrels.
The Monetary Policy Committee has raised the key lending rate by zero point five percent to 18.5%. It however left the cash reserve requirement and liquidity ratio at 32.5% and 30% respectively.
The apex bank also adds that its consistent rate hikes have helped control inflation which should have risen to about 30.48% in April.
The Monetary policy rate has been consistently raised by the monetary policy committee this year.
It was increased by 1% to 17.5% in January, zero point five percent to 18% in March and now a fifty basis points raise to 18.5% in May.
The committee says holding or loosening is not desirable at this time , hence the need to tighten.
The CBN governor says the current monetary policy stance is moderating inflation and would consolidate existing gains.
He adds that the 22.2% percent inflation rate seen in April would have been 30.48% but for the key lending rates which were raised.
The governor adds that though the tightened monetary policy stance is constraining credits it is a necessary action whose gains would be seen in the long run.
The bank also feels there is a need for the nation to ramp up oil production which presently stands at one point one million barrels per day to the level of OPEC’s quota of 1.8m barrels.
The Monetary Policy Committee has raised the key lending rate by zero point five percent to 18.5%. It however left the cash reserve requirement and liquidity ratio at 32.5% and 30% respectively.
The apex bank also adds that its consistent rate hikes have helped control inflation which should have risen to about 30.48% in April.
The Monetary policy rate has been consistently raised by the monetary policy committee this year.
It was increased by 1% to 17.5% in January, zero point five percent to 18% in March and now a fifty basis points raise to 18.5% in May.
The committee says holding or loosening is not desirable at this time , hence the need to tighten.
The CBN governor says the current monetary policy stance is moderating inflation and would consolidate existing gains.
He adds that the 22.2% percent inflation rate seen in April would have been 30.48% but for the key lending rates which were raised.
The governor adds that though the tightened monetary policy stance is constraining credits it is a necessary action whose gains would be seen in the long run.
The bank also feels there is a need for the nation to ramp up oil production which presently stands at one point one million barrels per day to the level of OPEC’s quota of 1.8m barrels.
The Monetary Policy Committee has raised the key lending rate by zero point five percent to 18.5%. It however left the cash reserve requirement and liquidity ratio at 32.5% and 30% respectively.
The apex bank also adds that its consistent rate hikes have helped control inflation which should have risen to about 30.48% in April.
The Monetary policy rate has been consistently raised by the monetary policy committee this year.
It was increased by 1% to 17.5% in January, zero point five percent to 18% in March and now a fifty basis points raise to 18.5% in May.
The committee says holding or loosening is not desirable at this time , hence the need to tighten.
The CBN governor says the current monetary policy stance is moderating inflation and would consolidate existing gains.
He adds that the 22.2% percent inflation rate seen in April would have been 30.48% but for the key lending rates which were raised.
The governor adds that though the tightened monetary policy stance is constraining credits it is a necessary action whose gains would be seen in the long run.
The bank also feels there is a need for the nation to ramp up oil production which presently stands at one point one million barrels per day to the level of OPEC’s quota of 1.8m barrels.
The Monetary Policy Committee has raised the key lending rate by zero point five percent to 18.5%. It however left the cash reserve requirement and liquidity ratio at 32.5% and 30% respectively.
The apex bank also adds that its consistent rate hikes have helped control inflation which should have risen to about 30.48% in April.
The Monetary policy rate has been consistently raised by the monetary policy committee this year.
It was increased by 1% to 17.5% in January, zero point five percent to 18% in March and now a fifty basis points raise to 18.5% in May.
The committee says holding or loosening is not desirable at this time , hence the need to tighten.
The CBN governor says the current monetary policy stance is moderating inflation and would consolidate existing gains.
He adds that the 22.2% percent inflation rate seen in April would have been 30.48% but for the key lending rates which were raised.
The governor adds that though the tightened monetary policy stance is constraining credits it is a necessary action whose gains would be seen in the long run.
The bank also feels there is a need for the nation to ramp up oil production which presently stands at one point one million barrels per day to the level of OPEC’s quota of 1.8m barrels.
The Monetary Policy Committee has raised the key lending rate by zero point five percent to 18.5%. It however left the cash reserve requirement and liquidity ratio at 32.5% and 30% respectively.
The apex bank also adds that its consistent rate hikes have helped control inflation which should have risen to about 30.48% in April.
The Monetary policy rate has been consistently raised by the monetary policy committee this year.
It was increased by 1% to 17.5% in January, zero point five percent to 18% in March and now a fifty basis points raise to 18.5% in May.
The committee says holding or loosening is not desirable at this time , hence the need to tighten.
The CBN governor says the current monetary policy stance is moderating inflation and would consolidate existing gains.
He adds that the 22.2% percent inflation rate seen in April would have been 30.48% but for the key lending rates which were raised.
The governor adds that though the tightened monetary policy stance is constraining credits it is a necessary action whose gains would be seen in the long run.
The bank also feels there is a need for the nation to ramp up oil production which presently stands at one point one million barrels per day to the level of OPEC’s quota of 1.8m barrels.
The Monetary Policy Committee has raised the key lending rate by zero point five percent to 18.5%. It however left the cash reserve requirement and liquidity ratio at 32.5% and 30% respectively.
The apex bank also adds that its consistent rate hikes have helped control inflation which should have risen to about 30.48% in April.
The Monetary policy rate has been consistently raised by the monetary policy committee this year.
It was increased by 1% to 17.5% in January, zero point five percent to 18% in March and now a fifty basis points raise to 18.5% in May.
The committee says holding or loosening is not desirable at this time , hence the need to tighten.
The CBN governor says the current monetary policy stance is moderating inflation and would consolidate existing gains.
He adds that the 22.2% percent inflation rate seen in April would have been 30.48% but for the key lending rates which were raised.
The governor adds that though the tightened monetary policy stance is constraining credits it is a necessary action whose gains would be seen in the long run.
The bank also feels there is a need for the nation to ramp up oil production which presently stands at one point one million barrels per day to the level of OPEC’s quota of 1.8m barrels.
The Monetary Policy Committee has raised the key lending rate by zero point five percent to 18.5%. It however left the cash reserve requirement and liquidity ratio at 32.5% and 30% respectively.
The apex bank also adds that its consistent rate hikes have helped control inflation which should have risen to about 30.48% in April.
The Monetary policy rate has been consistently raised by the monetary policy committee this year.
It was increased by 1% to 17.5% in January, zero point five percent to 18% in March and now a fifty basis points raise to 18.5% in May.
The committee says holding or loosening is not desirable at this time , hence the need to tighten.
The CBN governor says the current monetary policy stance is moderating inflation and would consolidate existing gains.
He adds that the 22.2% percent inflation rate seen in April would have been 30.48% but for the key lending rates which were raised.
The governor adds that though the tightened monetary policy stance is constraining credits it is a necessary action whose gains would be seen in the long run.
The bank also feels there is a need for the nation to ramp up oil production which presently stands at one point one million barrels per day to the level of OPEC’s quota of 1.8m barrels.
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